{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-009073","form_type":"8-K","ticker":"VSTS","cik":"0001967649","company_name":"Vestis Corp","filed_at":"2024-02-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.392384+00:00","generated_at":"2026-06-05T21:01:56.652556+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Vestis refinances $800M term loan, extends maturity to 2031","bullets":["Refinanced $800M 2-year Term Loan A-1 with $800M 7-year Term Loan B maturing 2031.","New loan priced at SOFR + 225 bps, stepping down to +200 bps at 3.30x net leverage.","Transaction is net leverage neutral and issued with 0.25% original issue discount.","Remaining $691M Term Loan A-2 and undrawn $300M revolver both mature in 2028.","Company targets optimal net leverage of 1.5x–2.5x by FY26."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-009073","json":"https://secwatch.observer/filing/0001140361-24-009073.json","markdown":"https://secwatch.observer/filing/0001140361-24-009073.md","text":"https://secwatch.observer/filing/0001140361-24-009073.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1967649/000114036124009073/0001140361-24-009073-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1967649/000114036124009073/ef20022209_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T21:01:56.652556+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":"b88453096bdaf57598c6268f1ff4c008bbe6fa2f","claim":"Vestis Corp incurred credit facility of $800 million with JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC at SOFR plus 2.25% (initial margin) or Base Rate plus 1.25% (initial margin), with maturing February 22, 2031.","evidence_excerpt":"On February 22, 2024, the Company entered into an $800 million term loan B-1 maturing February 22, 2031 (the “ Term B-1 Loan ), in order to refinance its existing $800 million term loan A-1 facility, pursuant to Amendment No. 1 (the “ Amendment ”) to its existing Credit Agreement, dated as of September 29, 2023","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1967649/000114036124009073/0001140361-24-009073-index.htm","confidence":0.97,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$800 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC"},{"label":"Rate","value":"SOFR plus 2.25% (initial margin) or Base Rate plus 1.25% (initial margin), with"},{"label":"Maturity","value":"February 22, 2031"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}