secwatch.observer — SEC 8-K summary
======================================

Issuer:     CrossAmerica Partners LP (CAPL)
CIK:        0001538849
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0000950170-23-011463
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CrossAmerica Partners upsizes credit facility to $925M, extends maturity to 2028
--------------------------------------------------------------------------------

- New $925M revolving credit facility, up from $750M; can be increased by additional $350M.
- Maturity extended from April 1, 2024 to March 31, 2028.
- Proceeds used to repay $200M subsidiary facility financing 7-Eleven/Speedway acquisitions.
- Borrowings bear interest at SOFR plus 1.75%-2.75% or base rate plus 0.75%-1.75%.
- Covenants include Consolidated Leverage Ratio (5.25x-4.75x) and Interest Coverage Ratio ≥2.50x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538849/000095017023011463/0000950170-23-011463-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538849/000095017023011463/capl-20230331.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-011463

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