secwatch.observer — SEC 8-K summary
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Issuer:     Phoenix Education Partners, Inc. (PXED)
CIK:        0001600222
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0000950142-25-002961
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phoenix Education Partners secures $100M revolving credit facility due 2030
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- Senior secured revolving credit facility of $100 million, maturing November 13, 2030.
- Interest at SOFR plus 2.50% or base rate plus 1.50%; commitment fee 0.375% on undrawn amounts.
- Proceeds for general corporate purposes, including letters of credit; Morgan Stanley Senior Funding as admin agent.
- Covenants include max net first lien leverage ratio of 2.50:1 if funded loans exceed 35% of commitments.
- Guaranteed by material domestic subsidiaries; secured by substantially all assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1600222/000095014225002961/0000950142-25-002961-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1600222/000095014225002961/eh250704660_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-25-002961

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer