secwatch.observer — SEC 8-K summary
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Issuer:     COMMVAULT SYSTEMS INC (CVLT)
CIK:        0001169561
Form:       8-K
Filed at:   2025-04-15T23:59:59+00:00
Accession:  0001169561-25-000028
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Commvault refinances credit facility, increasing borrowing capacity to $300M
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- New $300M senior secured revolving credit facility replaces existing $100M facility; five-year maturity.
- Borrowings bear interest at SOFR + 1.50%-2.00% or base rate + 0.50%-1.00%, based on leverage ratio.
- Unused commitment fee of 0.25%-0.35% per annum; financial maintenance covenants include leverage and interest coverage ratios.
- Existing credit agreement dated December 13, 2021 terminated upon effectiveness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169561/000116956125000028/0001169561-25-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169561/000116956125000028/cvlt-20250415.htm
  HTML page:      https://secwatch.observer/filing/0001169561-25-000028

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