secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0000950170-22-020712
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics enters new $750M credit agreement, extends maturity to 2027
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- New $750M multicurrency revolving credit facility replaces existing agreement, term loan terminated.
- Maturity date extended to October 31, 2027.
- Interest rates: SOFR plus 1.375%-2.25% or base rate plus 0.375%-1.25%, depending on leverage ratio.
- Approximately $200M of revolving loans outstanding at closing; proceeds used to refinance existing debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017022020712/0000950170-22-020712-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017022020712/mei-20221031.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-020712

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