secwatch.observer — SEC 8-K summary
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Issuer:     MOVADO GROUP INC (MOV)
CIK:        0000072573
Form:       8-K
Filed at:   2021-11-03T23:59:59+00:00
Accession:  0000950142-21-003519
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Movado extends $100M revolver maturity to 2026, reduces LIBOR floor to zero
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- Amendment No. 3 extends $100M senior secured revolver from Oct 2023 to Oct 2026.
- LIBOR floor reduced from 1% to zero; commitment fee cut by 0.05% when net leverage >0.75x.
- General investment basket raised to $35M/year with up to $20M unused carryforward.
- Up to $25M of unrestricted US cash netted in consolidated net leverage calculation.
- As of Oct 28, 2021, no loans drawn and ~$307K in letters of credit outstanding; availability ~$99.7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72573/000095014221003519/0000950142-21-003519-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72573/000095014221003519/eh210198501_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-21-003519

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