secwatch.observer — SEC 8-K summary
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Issuer:     REGAL REXNORD CORP (RRX)
CIK:        0000082811
Form:       8-K
Filed at:   2022-12-23T23:59:59+00:00
Accession:  0001104659-22-129878
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Regal Rexnord amends $500M note agreement to permit Altra merger; adjusts covenants
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- First Amendment to Note Purchase Agreement for $500M 3.90% senior notes due April 7, 2032.
- Permits the proposed merger with Altra Industrial Motion Corp.; modifies financial covenants.
- Maximum leverage ratio increases to 4.875x post-merger, stepping down to 3.75x over time; minimum interest coverage ratio dips to 2.75x then returns to 3.00x.
- Adds 1.25% per annum fee on notes if non-investment grade and a 2.50% maintenance fee upon merger close; imposes limits on acquisitions and share buybacks.
- Bridge Facility commitments reduced dollar-for-dollar by outstanding notes; Company paid 0.05% consent fee to noteholders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/82811/000110465922129878/0001104659-22-129878-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/82811/000110465922129878/tm2233154d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-129878

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