secwatch.observer — SEC 8-K summary
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Issuer:     MSC INDUSTRIAL DIRECT CO INC (MSM)
CIK:        0001003078
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0001003078-22-000179
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MSC Industrial Direct enters $300M receivables purchase facility
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- Receivables Purchase Agreement for up to $300M committed senior secured revolving trade receivables facility, dated Dec 19, 2022.
- Pricing based on 1-month Term SOFR plus a margin; facility includes financial covenants: max leverage 3.00x, interest coverage >3.00x.
- Seller is MSC A/R Holding Co.; originator is Sid Tool Co.; Wells Fargo is admin agent; Bank of America and Regions Bank are purchasers and also lenders under existing revolving credit facility.
- Facility used to sell trade receivables; proceeds support working capital and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1003078/000100307822000179/0001003078-22-000179-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1003078/000100307822000179/msm-20221219x8k.htm
  HTML page:      https://secwatch.observer/filing/0001003078-22-000179

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