secwatch.observer — SEC 8-K summary
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Issuer:     BRIGHT HORIZONS FAMILY SOLUTIONS INC. (BFAM)
CIK:        0001437578
Form:       8-K
Filed at:   2021-11-24T23:59:59+00:00
Accession:  0001193125-21-339104
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bright Horizons refinances $1B in credit facilities with new $600M term B and $400M term A loans
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- New $600M term B loan facility (seven-year) and $400M term A loan facility (five-year) entered on Nov 23, 2021.
- Proceeds used to refinance all outstanding term loans under original credit agreement, plus fees and expenses.
- Existing $400M revolving credit facility (matures May 2026) maintained unchanged.
- Interest rates: term B at LIBOR+2.25% (Eurocurrency) with 0.50% floor; term A at LIBOR+1.50%-1.75% with 0.00% floor.
- Mandatory prepayment provisions: 50% excess cash flow (step-downs based on leverage); 1.0% call premium on term B for repricing within six months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437578/000119312521339104/0001193125-21-339104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437578/000119312521339104/d212344d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-339104

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