secwatch.observer — SEC 8-K summary
======================================

Issuer:     UNITED THERAPEUTICS Corp (UTHR)
CIK:        0001082554
Form:       8-K
Filed at:   2022-04-01T23:59:59+00:00
Accession:  0001104659-22-041375
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

United Therapeutics enters $2B credit agreement, draws $800M to refinance existing debt
--------------------------------------------------------------------------------

- New $2B unsecured revolving credit facility with $1.2B Tranche A and $800M Tranche B; can be increased by up to $500M.
- Borrowed $800M at closing to repay outstanding indebtedness under 2018 credit agreement; no penalties for early termination.
- Maturity five years from March 31, 2022, with two possible one-year extensions at borrower's request.
- Interest at Adjusted Term SOFR or base rate plus margin tied to leverage ratio; covenant limits total debt/EBITDA to 3.00x (3.50x after acquisitions).
- Financial covenants also require interest coverage ratio >= 3.00x; customary events of default and change of control clause.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1082554/000110465922041375/0001104659-22-041375-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1082554/000110465922041375/tm2211000d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-041375

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