{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-011191","form_type":"8-K","ticker":"OTIS","cik":"0001781335","company_name":"Otis Worldwide Corp","filed_at":"2023-03-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.513970+00:00","generated_at":"2026-06-18T05:41:36.020485+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"confidence":"high","headline":"Otis enters new $1.5B credit facility maturing 2028, terminates existing one","bullets":["New unsecured $1.5B revolving credit agreement matures March 10, 2028.","Old facility (scheduled to expire April 3, 2025) terminated with no early termination penalties.","Borrowings bear SOFR (plus 0.10% credit spread) or base rate; initial margin 1.25% for SOFR loans.","Facility includes $500M accordion feature and financial covenant requiring maximum leverage ratio.","JPMorgan Chase leads as administrative agent; syndication agents include Bank of America, Citibank, HSBC, Sumitomo Mitsui."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-011191","json":"https://secwatch.observer/filing/0001140361-23-011191.json","markdown":"https://secwatch.observer/filing/0001140361-23-011191.md","text":"https://secwatch.observer/filing/0001140361-23-011191.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1781335/000114036123011191/0001140361-23-011191-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1781335/000114036123011191/brhc10049467_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T05:41:36.020485+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7bfb776076d7a79a0ccb0a50fee20dad8dc8ce07","claim":"Otis Worldwide Corp incurred revolving credit of $1,500 million with JPMorgan Chase Bank, N.A. at Term SOFR plus 0.10% credit spread adjustment plus applicable margin of 1.25% (o maturing March 10, 2028.","evidence_excerpt":"On March 10, 2023, Otis Worldwide Corporation (“ Otis ”), entered into a new credit agreement (the “ Credit Agreement ”) governing its unsecured $1,500 million revolving credit facility, which matures on March 10, 2028.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1781335/000114036123011191/0001140361-23-011191-index.htm","confidence":0.99,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$1,500 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A."},{"label":"Rate","value":"Term SOFR plus 0.10% credit spread adjustment plus applicable margin of 1.25% (o"},{"label":"Maturity","value":"March 10, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3622f76f61e473d24a1ed6b052c7fa81b64f4bbb","claim":"Otis Worldwide Corp entered into Credit Agreement with JPMorgan Chase Bank, N.A. valued at unsecured $1,500 million revolving credit facility, matures on March 10, 2028 (effective 2023-03-10).","evidence_excerpt":"On March 10, 2023, Otis Worldwide Corporation (“ Otis ”), entered into a new credit agreement (the “ Credit Agreement ”) governing its unsecured $1,500 million revolving credit facility, which matures on March 10, 2028.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1781335/000114036123011191/0001140361-23-011191-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A."},{"label":"Value","value":"unsecured $1,500 million revolving credit facility, matures on March 10, 2028"},{"label":"Effective","value":"2023-03-10"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}