secwatch.observer — SEC 8-K summary
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Issuer:     BORGWARNER INC (BWA)
CIK:        0000908255
Form:       8-K
Filed at:   2023-09-22T23:59:59+00:00
Accession:  0001104659-23-103177
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BorgWarner enters $2.0B unsecured revolver maturing 2028, replaces prior facility
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- $2.0B unsecured revolving credit facility; may increase by up to $1.0B with lender consent.
- Maturity date September 22, 2028, with extension options available upon lender approval.
- Financial covenant: consolidated leverage ratio not to exceed 3.50x (3.75x temporarily for certain acquisitions).
- No new borrowings at closing; no loans were outstanding under the prior credit agreement.
- Proceeds for general corporate purposes; interest rates tied to credit ratings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908255/000110465923103177/0001104659-23-103177-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908255/000110465923103177/tm2326744d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-103177

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