---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-126340"
form_type: "8-K"
ticker: "RBA"
cik: "0001046102"
company_name: "RB GLOBAL INC."
filed_at: "2022-12-12T23:59:59+00:00"
generated_at: "2026-06-21T05:55:24.747584+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ritchie Bros. secures up to $1.825B term loan A and amends credit facility for IAA merger

## Summary
- Obtained commitments for a $1.825B term loan A facility to finance the proposed IAA merger.
- Backstop revolving commitments terminated; senior secured bridge facility reduced to ~$886M.
- Ability to borrow up to $200M of the revolving facility on limited conditionality basis.
- Consolidated leverage ratio covenant steps down from 4.50x to 3.50x over 13 quarters post-close.
- Interest margin increases by 0.25% if $800M senior unsecured notes not issued before closing.

## SEC filing metadata
- accession: 0001104659-22-126340
- form_type: 8-K
- ticker: RBA
- cik: 0001046102
- company_name: RB GLOBAL INC.
- filed_at: 2022-12-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1046102/000110465922126340/0001104659-22-126340-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1046102/000110465922126340/tm2232441d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-126340
- JSON: https://secwatch.observer/filing/0001104659-22-126340.json
- Plain text: https://secwatch.observer/filing/0001104659-22-126340.txt

## Key facts
- Debt Financings
  RB GLOBAL INC. incurred term loan of up to $1.825 billion with Bank of America, N.A., as administrative agent at a rate per annum equal to, (A) for U.S. dollar borrowings, either a base rate, a maturing not explicit.
  - Instrument: term loan
  - Principal: up to $1.825 billion
  - Counterparty: Bank of America, N.A., as administrative agent
  - Rate: a rate per annum equal to, (A) for U.S. dollar borrowings, either a base rate, a
  - Maturity: not explicit
  - Event: incurrence
  source text: provides commitments for a term loan A facility in an aggregate principal amount of up to $1.825 billion (the “TLA Facility”) to be used to finance, in part, the IAA merger
  evidence_url: https://www.sec.gov/Archives/edgar/data/1046102/000110465922126340/0001104659-22-126340-index.htm
- Material Agreements
  RB GLOBAL INC. amended Sixth Amendment with Bank of America, N.A., as administrative agent, U.S. swing line lender and a letter of credit issuer and the other lenders party thereto (effective 2022-12-09).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, U.S. swing line lender and a letter of credit issuer and the other lenders party thereto
  - Effective: 2022-12-09
  source text: On December 9, 2022, Ritchie Bros. Auctioneers Incorporated (the “Company”) entered into a sixth amendment (the “Sixth Amendment”) to the Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1046102/000110465922126340/0001104659-22-126340-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.