secwatch.observer — SEC 8-K summary
======================================

Issuer:     ZIMMER BIOMET HOLDINGS, INC. (ZBH)
CIK:        0001136869
Form:       8-K
Filed at:   2022-08-22T23:59:59+00:00
Accession:  0001193125-22-226467
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zimmer Biomet enters $1.5B five-year and $1.0B 364-day revolving credit facilities
--------------------------------------------------------------------------------

- New $1.5B five-year unsecured revolving credit facility matures August 19, 2027, with two one-year extension options.
- New $1.0B 364-day unsecured revolving credit facility matures August 18, 2023; both for general corporate purposes.
- Prior 2021 five-year and 364-day credit agreements terminated; no borrowings were outstanding at termination.
- Five-year facility has an uncommitted incremental feature allowing up to $500M additional capacity.
- Interest based on adjusted Term SOFR plus margin determined by credit rating; leverage covenant max 4.5x EBITDA (5.0x for material acquisitions).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1136869/000119312522226467/0001193125-22-226467-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1136869/000119312522226467/d374379d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-226467

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer