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

Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2023-02-27T23:59:59+00:00
Accession:  0001140361-23-008866
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000114036123008866/0001140361-23-008866-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000114036123008866/brhc10048657_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-008866

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