secwatch.observer — SEC 8-K summary
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Issuer:     C. H. ROBINSON WORLDWIDE, INC. (CHRW)
CIK:        0001043277
Form:       8-K
Filed at:   2022-11-23T23:59:59+00:00
Accession:  0001043277-22-000052
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

C.H. Robinson amends $1B credit facility: maturity extended to 2027, margins reduced, ESG KPIs added
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- Maturity extended from Oct 2023 to Nov 2027; LIBOR replaced with Term SOFR for USD borrowings.
- Interest rate margins reduced to 0.75%-1.375% based on S&P/Moody's ratings; commitment fees 0.07%-0.15%.
- Leverage covenant set at max 3.50x (can increase to 4.25x for four quarters post-acquisition).
- Default threshold for judgments/ERISA raised from $75M to $125M; permitted receivables debt increased to $750M.
- Bylaws amended to nullify stockholder nominations under Universal Proxy Rule if notice withdrawn or non-compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043277/000104327722000052/0001043277-22-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043277/000104327722000052/chrw-20221117.htm
  HTML page:      https://secwatch.observer/filing/0001043277-22-000052

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