secwatch.observer — SEC 8-K summary
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Issuer:     Latham Group, Inc. (SWIM)
CIK:        0001833197
Form:       8-K
Filed at:   2022-02-23T23:59:59+00:00
Accession:  0001104659-22-026118
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Latham Group enters $400M credit facility (revolver $75M, term loan $325M) to refinance existing debt
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- Revolving credit facility $75M; term loan facility $325M; proceeds used to repay prior credit agreement.
- Revolver matures Feb 2027; term loan matures Feb 2029; SOFR+3.50% margin on revolver, SOFR+3.75-4.00% on term loan.
- Commitment fee on unused revolver ranges from 0.25% to 0.50% depending on leverage ratio.
- Facility guaranteed by Latham International Manufacturing and domestic subsidiaries; secured by substantially all assets.
- Covenants include maximum First Lien Net Leverage Ratio of 5.50:1.00 when revolver usage exceeds 40%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833197/000110465922026118/0001104659-22-026118-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833197/000110465922026118/tm227460d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-026118

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