secwatch.observer — SEC 8-K summary
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Issuer:     NATHANS FAMOUS, INC. (NATH)
CIK:        0000069733
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001104659-24-078990
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nathan's Famous enters $70M credit facility; redeems $60M secured notes due 2025
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- New $60M term loan and $10M revolver (expandable by $10M) from Citibank, matures July 2029.
- Proceeds used to refinance $60M 6.625% Secured Notes due 2025; redemption called for Aug 14, 2024.
- Interest at Term SOFR + 1.40% or Base Rate; commitment fee 0.20% on undrawn revolver.
- Unsecured; quarterly amortization of 1% of original term loan starting Sept 30, 2024.
- Covenants: fixed charge coverage ≥1.20x, net leverage ≤3.00x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/69733/000110465924078990/0001104659-24-078990-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/69733/000110465924078990/tm2419221d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-078990

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