secwatch.observer — SEC 8-K summary
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Issuer:     ABM INDUSTRIES INC /DE/ (ABM)
CIK:        0000771497
Form:       8-K
Filed at:   2025-02-28T23:59:59+00:00
Accession:  0000950170-25-030050
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ABM enters $2.2B credit facility with $1.6B revolver, $600M term loan, maturing 2030
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- Total commitments: $1.6B revolving credit and $600M term loan, five-year term maturing Feb 26, 2030.
- Borrowings bear interest at Term SOFR or base rate plus margin based on total net leverage ratio.
- Financial covenants: max total net leverage 5.00x, max secured net leverage 4.00x, min interest coverage 1.50x.
- Proceeds used to refinance original credit agreement, pay down revolving debt, and cover transaction costs.
- Obligations guaranteed by material domestic subs and secured by substantially all assets of ABM and guarantors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/771497/000095017025030050/0000950170-25-030050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/771497/000095017025030050/abm-20250226.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-030050

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