secwatch.observer — SEC 8-K summary
======================================

Issuer:     BALCHEM CORP (BCPC)
CIK:        0000009326
Form:       8-K
Filed at:   2022-08-01T23:59:59+00:00
Accession:  0001140361-22-027537
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Balchem enters $550M revolving credit facility, refinances existing debt
------------------------------------------------------------------------

- New $550M senior revolving credit facility matures in 5 years from July 27, 2022.
- Proceeds used to refinance all outstanding indebtedness under the prior 2018 credit agreement.
- Financial covenants: max consolidated net leverage ratio of 4.00x; min interest coverage of 3.00x.
- Facility includes $10M letter of credit sublimit and $10M swing line sublimit.
- Interest rate grid based on leverage: Term Benchmark loans range from SOFR+1.00% to +1.625%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/9326/000114036122027537/0001140361-22-027537-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/9326/000114036122027537/brhc10040170_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-027537

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