secwatch.observer — SEC 8-K summary
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Issuer:     Gates Industrial Corp plc (GTES)
CIK:        0001718512
Form:       8-K
Filed at:   2024-06-04T23:59:59+00:00
Accession:  0001104659-24-068270
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gates Industrial issues $500M 6.875% notes due 2029, upsizes revolver, refinances 2026 notes
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- Issuer sold $500M of 6.875% Senior Notes due July 1, 2029, at par on June 4, 2024.
- Net proceeds used to redeem all $568M of 6.250% Senior Notes due 2026.
- Credit Agreement Amendment No. 9 upsized revolver by $250M to $500M and added $1.3B Initial B-5 Dollar Term Loans.
- New term loans bear interest at Term SOFR + 2.25%; revolver matures June 2029 (or April 2029 if notes outstanding).
- Amendment also refinanced existing B-3 term loans and revised applicable rates for B-4 term loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718512/000110465924068270/0001104659-24-068270-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718512/000110465924068270/tm2416310d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-068270

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