secwatch.observer — SEC 8-K summary
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Issuer:     TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK:        0001051512
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001051512-22-000065
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TDS enters $150M unsecured term loan facility with Export Development Canada to finance Nokia purchases
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- $150 million term loan facility to finance/refinance purchases of goods and services from Nokia OYJ.
- Borrowings bear interest at SOFR or alternative base rate plus applicable margin, at TDS' option.
- Financial covenants: consolidated interest coverage ratio >= 3.00x; consolidated leverage ratio <= 3.75x.
- Loan is unsecured; certain subsidiaries are guarantors; change in control triggers default and repayment.
- Borrowings must be made by April 9, 2023; maturity is five years from first borrowing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1051512/000105151222000065/0001051512-22-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1051512/000105151222000065/tds-20221109.htm
  HTML page:      https://secwatch.observer/filing/0001051512-22-000065

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