secwatch.observer — SEC 8-K summary
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Issuer:     RELIANCE, INC. (RS)
CIK:        0000861884
Form:       8-K
Filed at:   2025-08-15T23:59:59+00:00
Accession:  0001104659-25-079220
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance enters $400M term loan to repay August 2025 senior notes
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- $400M term loan fully drawn at closing, matures August 14, 2028.
- Proceeds used to repay $400M of senior unsecured notes due August 15, 2025.
- Loan is unsecured with no subsidiary guarantees; initial interest at SOFR + 0.75%.
- Leverage-based pricing grid: SOFR + 0.75% to 1.25% depending on Total Net Leverage Ratio.
- Covenants include a maximum Total Net Leverage Ratio financial maintenance covenant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861884/000110465925079220/0001104659-25-079220-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861884/000110465925079220/tm2523573d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-079220

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