secwatch.observer — SEC 8-K summary
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Issuer:     OPENLANE, Inc. (OPLN)
CIK:        0001395942
Form:       8-K
Filed at:   2024-01-22T23:59:59+00:00
Accession:  0001104659-24-005617
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPENLANE enters into C$175M Canadian revolver and C$50M sublimit to finance Manheim Canada acquisition
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- First Amendment establishes C$175M 2024 Canadian Revolving Facility for ADESA Auctions Canada.
- Also creates a C$50M Canadian sublimit borrowable under the existing revolving facility.
- Proceeds to partially fund asset acquisition from Manheim Canada, plus fees and working capital.
- Interest on CORRA loans ranges from CORRA +2.50% to +3.00%; Prime loans from Prime +1.50% to +2.00%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1395942/000110465924005617/0001104659-24-005617-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1395942/000110465924005617/tm243758d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-005617

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