secwatch.observer — SEC 8-K summary
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Issuer:     Workday, Inc. (WDAY)
CIK:        0001327811
Form:       8-K
Filed at:   2022-04-07T23:59:59+00:00
Accession:  0001104659-22-043661
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workday enters $1B revolving credit facility, replaces $750M prior facilities
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- New $1B revolver matures April 6, 2027; no outstanding draws as of April 7, 2022.
- Prepaid $693.75M term loan and terminated $750M revolver from 2020 credit agreement.
- Interest rates tied to SOFR plus margin of 0.875%-1.500% (or base rate plus 0.000%-0.500%) depending on leverage ratio.
- Financial covenant requires maximum leverage ratio of 3.50:1.00 (step-up to 4.50:1.00 after permitted acquisitions).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327811/000110465922043661/0001104659-22-043661-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327811/000110465922043661/tm2212084d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-043661

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