secwatch.observer — SEC 8-K summary
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Issuer:     REGAL REXNORD CORP (RRX)
CIK:        0000082811
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0001104659-22-119924
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Regal Rexnord completes first phase of financing for Altra acquisition; secures $1.1B in credit commitments
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- Completed $1.1B in credit commitments: $600M incremental term loan and $500M revolver upsizing for Altra acquisition.
- Backstop facility reduced to $0; bridge facility reduced to $4.9B.
- Leverage ratio covenant amended to 4.875x post-acquisition, stepping down to 3.75x.
- CEO: strong reception from bank market, investment grade ratings from two agencies.
- Minimum interest coverage ratio set at 2.75x post-acquisition, stepping to 3.00x after 18 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/82811/000110465922119924/0001104659-22-119924-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/82811/000110465922119924/tm2230811d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-119924

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