secwatch.observer — SEC 8-K summary
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Issuer:     MOVADO GROUP INC (MOV)
CIK:        0000072573
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0000950142-22-002401
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Movado amends $100M revolver, replaces LIBOR with Term SOFR, consolidates Swiss borrower
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- Amendment recognizes MGI Luxury Group GmbH as sole Swiss borrower under $100M revolving credit facility.
- Facility benchmark for USD borrowings switched from LIBOR to Term SOFR via early opt-in.
- As of July 31, 2022, no loans drawn; $306K letters of credit outstanding; ~$99.7M availability.
- Amendment consolidates prior Swiss borrowers after merger and corporate form conversion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72573/000095014222002401/0000950142-22-002401-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72573/000095014222002401/eh220276323_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-22-002401

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