secwatch.observer — SEC 8-K summary
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Issuer:     DESTINATION XL GROUP, INC. (DXLG)
CIK:        0000813298
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0000950170-23-013942
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DXLG amends credit facility to replace LIBOR with SOFR interest rate options
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- First Amendment dated April 20, 2023, replaces LIBOR with SOFR (Daily Simple SOFR) as benchmark rate.
- Base Rate loans now tied to greater of Prime Rate, Fed Funds +0.50%, or Daily Simple SOFR +1.00% plus Applicable Margin.
- Daily Simple SOFR loans bear interest at SOFR +0.10% adjustment plus Applicable Margin (0.25% or 0.50% based on availability).
- As of April 20, 2023, the Company had no outstanding borrowings under the amended Credit Agreement.
- Amendment updates the October 28, 2021 Credit Agreement with Citizens Bank as administrative agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813298/000095017023013942/0000950170-23-013942-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813298/000095017023013942/dxlg-20230420.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-013942

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