Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
LKQ CORP incurred credit facility of up to $2 billion revolving credit facility and $500 million term loan with Wells Fargo Bank, National Association, as administrative agent, and other lenders at variable rate based on SOFR or Alternate Base Rate plus spreads ranging from 1.1 maturing Revolving loans mature January 5, 2028; term loan matures January 5, 2026.
- Instrument
- credit facility
- Principal
- up to $2 billion revolving credit facility and $500 million term loan
- Counterparty
- Wells Fargo Bank, National Association, as administrative agent, and other lenders
- Rate
- variable rate based on SOFR or Alternate Base Rate plus spreads ranging from 1.1
- Maturity
- Revolving loans mature January 5, 2028; term loan matures January 5, 2026
- Event
- incurrence
Exact text from the filing
The New Credit Agreement includes an unsecured revolving credit facility of up to a U.S. Dollar equivalent of $2 billion, which includes a $150 million sublimit for the issuance of letters of credit and a $150 million sublimit for swing line loans (the "Revolving Loans") and an unsecured term loan facility of up to $500 million (the "Term Loan" and collectively with the Revolving Loans, the "Loans").
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
LKQ CORP entered into Credit Agreement with Wells Fargo Bank, National Association, Bank of America, N.A., PNC Bank, National Association, Truist Bank, MUFG Bank, Ltd., and other lenders valued at $2 billion (effective 2023-01-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association, Bank of America, N.A., PNC Bank, National Association, Truist Bank, MUFG Bank, Ltd., and other lenders
- Value
- $2 billion
- Effective
- 2023-01-05
Exact text from the filing
On January 5, 2023, LKQ Corporation ("LKQ" or the "Company") and certain other subsidiaries of LKQ (collectively, the "Borrowers") entered into a new Credit Agreement (the "New Credit Agreement") with several lenders from time to time party thereto as Lenders (the "Lenders"); Wells Fargo Bank, National Association ("Wells Fargo Bank"), as administrative agent; Bank of America, N.A. ("Bank of America"), as syndication agent; PNC Bank, National Association, Truist Bank and MUFG Bank, Ltd. ("MUFG"), as Documentation Agents; Wells Fargo Bank and Bank of America, as Sustainability Structuring Agents; Wells Fargo Securities, LLC, BofA Securities, Inc., PNC Capital Markets LLC, Truist Securities, Inc. and MUFG, as joint bookrunners and joint lead arrangers.
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