secwatch.observer — SEC 8-K summary
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Issuer:     Reservoir Media, Inc. (RSVR)
CIK:        0001824403
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0001104659-22-128628
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reservoir Media expands credit facility to $450M, extends maturity to Dec 2027
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- Revolving credit commitment increased from $350M to $450M; accordion feature raised from $50M to $150M.
- Maturity extended to December 16, 2027; interest rate set at SOFR + 2.00% or base rate + 1.00% (with 0.25% step-up).
- Total leverage ratio covenant (max 7.50x) removed; minimum fixed charge coverage reduced to 1.10x.
- Consolidated senior debt to library value covenant set at 0.450, subject to adjustments.
- Amendment executed December 16, 2022; Truist Bank serves as administrative agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1824403/000110465922128628/0001104659-22-128628-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1824403/000110465922128628/tm2233075d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-128628

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