---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-008866"
form_type: "8-K"
ticker: "STRT"
cik: "0000933034"
company_name: "STRATTEC SECURITY CORP"
filed_at: "2023-02-27T23:59:59+00:00"
generated_at: "2026-06-19T00:21:22.753329+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# STRATTEC amends credit agreement to replace LIBOR with SOFR-based interest rate

## Summary
- Amendment No. 8 to credit agreement with BMO Harris Bank effective February 22, 2023.
- Interest rate benchmark changed from LIBOR to Term SOFR plus 1.35% (or base rate).
- No other material changes to credit facility terms or covenants.
- Company reaffirmed representations and warranties; no new borrowings or defaults.
- Routine update to align with market transition away from LIBOR.

## SEC filing metadata
- accession: 0001140361-23-008866
- form_type: 8-K
- ticker: STRT
- cik: 0000933034
- company_name: STRATTEC SECURITY CORP
- filed_at: 2023-02-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/933034/000114036123008866/0001140361-23-008866-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/933034/000114036123008866/brhc10048657_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-008866
- JSON: https://secwatch.observer/filing/0001140361-23-008866.json
- Plain text: https://secwatch.observer/filing/0001140361-23-008866.txt

## Key facts
- Debt Financings
  STRATTEC SECURITY CORP amended credit facility with BMO Harris Bank N.A. at Term SOFR plus 1.35 percent or the bank’s base rate, which generally is tied to.
  - Instrument: credit facility
  - Counterparty: BMO Harris Bank N.A.
  - Rate: Term SOFR plus 1.35 percent or the bank’s base rate, which generally is tied to
  - Event: amendment
  source text: As described above under Item 1.01, on February 22, 2023, the Company entered into an amendment to its credit agreement with BMO Harris Bank N.A. modifying the benchmark interest rate and making certain other changes thereto described in the Amendment attached hereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/933034/000114036123008866/0001140361-23-008866-index.htm
- Material Agreements
  STRATTEC SECURITY CORP amended Eighth Amendment to Credit Agreement dated August 1, 2011 with BMO Harris Bank N.A. valued at Modified interest rate benchmark to Term SOFR plus 1.35% or base rate tied to prime rate. (effective 2023-02-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: BMO Harris Bank N.A.
  - Value: Modified interest rate benchmark to Term SOFR plus 1.35% or base rate tied to prime rate.
  - Effective: 2023-02-22
  source text: Effective as of February 22, 2023, STRATTEC SECURITY CORPORATION (the " Company ") entered into an eighth amendment (the " Amendment ") to its August 1, 2011 Credit Agreement, as previously amended by an Amendment No. 1 dated December 27, 2013, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated June 24, 2016, an Amendment No. 4 dated June 26, 2017, an Amendment No. 5 dated September 28, 2018, an Amendment No. 6 dated October 28, 2019 and an Amendment No. 7 dated June 1, 2021 (collectively, the " STRATTEC Credit Agreement "), with BMO Harris Bank N.A., as lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/933034/000114036123008866/0001140361-23-008866-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.