secwatch.observer — SEC 8-K summary
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Issuer:     AAR CORP (AIR)
CIK:        0000001750
Form:       8-K
Filed at:   2022-12-14T23:59:59+00:00
Accession:  0001104659-22-126982
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

AAR Corp enters $620M unsecured revolver, replaces 2011 credit facility
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- $620M unsecured revolving credit facility; Wells Fargo as admin agent; matures Dec 14, 2027.
- Interest at SOFR + 112.5-200 bps or Base Rate + 12.5-100 bps based on financial metrics.
- Facility can be increased by up to $300M to $920M total under certain conditions.
- 2011 credit agreement with Bank of America terminated; borrowings rolled over with no material penalties.
- Covenants include minimum interest coverage and maximum debt-to-EBITDA ratios.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1750/000110465922126982/0001104659-22-126982-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1750/000110465922126982/tm2232722d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-126982

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