secwatch.observer — SEC 8-K summary
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Issuer:     SUN COMMUNITIES INC (SUI)
CIK:        0000912593
Form:       8-K
Filed at:   2022-04-13T23:59:59+00:00
Accession:  0001193125-22-104282
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 8.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sun Communities closes £950M Park Holidays acquisition, upsizes credit facility to $4.2B, appoints new CFO
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- Acquired Park Holidays, UK's 2nd largest holiday-community owner, for £950M (~$1.3B); 186,044 shares issued to sellers.
- Credit facility expanded to $4.2B (with ability to upsize to $5.0B); revolving line $3.05B, term loan $1.15B; maturities extended to 2025/2027.
- CFO Karen Dearing retires effective May 2, 2022; Fernando Castro-Caratini appointed as new CFO, Secretary, and Treasurer.
- Castro-Caratini previously SVP Finance & Capital Markets at Sun Communities; base salary $550K, bonus up to 130%.
- Park Holidays operation consists of 40 owned/managed communities in UK seaside locations; adds UK exposure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912593/000119312522104282/0001193125-22-104282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912593/000119312522104282/d328673d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-104282

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