secwatch.observer — SEC 8-K summary
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Issuer:     FAIR ISAAC CORP (FICO)
CIK:        0000814547
Form:       8-K
Filed at:   2021-08-19T23:59:59+00:00
Accession:  0001193125-21-251573
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FICO enters $600M credit agreement, draws $475M to refinance debt
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- New $600M unsecured five-year revolving credit facility, replacing prior facility.
- Borrowed $475M at closing to refinance existing debt; may also fund share repurchases and working capital.
- Financial covenants: interest coverage ratio >= 3.00x, total leverage <= 3.50x (step-up to 4.00x post-acquisitions).
- Interest margins: Eurodollar +100-175 bps, commitment fee 17.5-30 bps, based on total leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814547/000119312521251573/0001193125-21-251573-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814547/000119312521251573/d214746d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-251573

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