secwatch.observer — SEC 8-K summary
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Issuer:     PHINIA INC. (PHIN)
CIK:        0001968915
Form:       8-K
Filed at:   2024-04-04T23:59:59+00:00
Accession:  0001140361-24-017862
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PHINIA issues $525M 6.75% senior secured notes due 2029, amends credit facility
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- Issued $525M 6.75% Senior Secured Notes due 2029 (increased from $425M); proceeds to repay term loan B and revolver.
- Interest payable semi-annually on April 15 and October 15, starting Oct 15, 2024; notes mature April 15, 2029.
- Credit agreement amendment: total net leverage ratio covenant loosened from 3.00x to 3.25x (step-up to 3.75x for acquisitions).
- Mandatory prepayment based on operating cash flow removed under amended credit facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/0001140361-24-017862-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/ef20025760_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-017862

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