secwatch.observer — SEC 8-K summary
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Issuer:     TENNANT CO (TNC)
CIK:        0000097134
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001104659-24-086820
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tennant Company enters $650M senior secured credit facility due 2029
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- $650M revolving credit facility, expandable by $325M, matures August 7, 2029.
- Interest rates: Term SOFR+1.25%-2.00% or ABR+0.25%-1.00%, based on leverage ratio.
- Commitment fee on undrawn portion: 0.15%-0.30% annually based on leverage ratio.
- Covenants: max leverage 3.75x, min interest coverage 3.00x, restricted payment limit if leverage >2.50x.
- Facility is senior secured; collateral includes substantially all personal property and subsidiary stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/97134/000110465924086820/0001104659-24-086820-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/97134/000110465924086820/tm2421061d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-086820

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