secwatch.observer — SEC 8-K summary
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Issuer:     GENESCO INC (GCO)
CIK:        0000018498
Form:       8-K
Filed at:   2022-02-03T23:59:59+00:00
Accession:  0000950170-22-000748
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genesco amends credit agreement: maturity extended to 2027, margin reduced 1%
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- Extended maturity to Jan 28, 2027; removed $17.5M term loan.
- Borrowing base expanded: in-transit inventory (≤15% of base, 75% advance rate) and real estate (up to 25%, 60% advance rate).
- Seasonal inventory advance rate increased to 92.5% for four months; intellectual property excluded from collateral.
- No financial covenants unless Excess Availability < $22.5M or 10% of loan cap; then fixed charge coverage ratio ≥1.0:1.0.
- Applicable Margin on revolver reduced by 1.00%; replaced LIBOR with SOFR.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/18498/000095017022000748/0000950170-22-000748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/18498/000095017022000748/gco-20220128.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-000748

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