secwatch.observer — SEC 8-K summary
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Issuer:     Sylvamo Corp (SLVM)
CIK:        0001856485
Form:       8-K
Filed at:   2021-09-15T23:59:59+00:00
Accession:  0001193125-21-273473
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sylvamo enters $1.42B debt facilities; names new directors ahead of spin-off
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- $1.42B in facilities: $450M revolver, $450M Term B, $520M Term F; funds spin-off Special Payment, renewable investments, working capital.
- Term B at LIBOR+4.5% (floor 0.5%); Term F and revolver at LIBOR+1.9% and 1.75% respectively (floor 0%).
- Maturities: Term B 2028, Term F 2027, revolver 2026; prepayments subject to excess cash flow and asset sale provisions.
- Four directors resign effective on spin-off (Oct 1); eight new directors appointed post-spin-off, including Jeanmarie Desmond as Audit Chair.
- Financial covenants: min interest coverage 3.00x, max leverage 4.25x stepping down; restricted payments capped due to Brazil Tax Dispute.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856485/000119312521273473/0001193125-21-273473-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856485/000119312521273473/d210202d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-273473

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