secwatch.observer — SEC 8-K summary
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Issuer:     TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK:        0001051512
Form:       8-K
Filed at:   2023-10-02T23:59:59+00:00
Accession:  0001051512-23-000059
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TDS enters $300M secured credit facility, borrows full amount for general corporate purposes
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- $300M secured term loan credit facility, fully drawn on Sept 28, 2023; part used to repay existing revolver.
- Interest at SOFR or base rate plus margin; covenants: interest coverage ≥ 3.0x, leverage ratio ≤ 4.25x to 3.75x.
- Secured by 26,417,915 US Cellular common shares and other assets of TDS and guarantor subsidiaries.
- Maturity earlier of Sept 28, 2026 or 91 days prior to existing revolver maturity (currently July 20, 2026).
- Borrowing for general corporate purposes; full amount borrowed on effective date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1051512/000105151223000059/0001051512-23-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1051512/000105151223000059/tds-20230928.htm
  HTML page:      https://secwatch.observer/filing/0001051512-23-000059

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