secwatch.observer — SEC 8-K summary
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Issuer:     AKAMAI TECHNOLOGIES INC (AKAM)
CIK:        0001086222
Form:       8-K
Filed at:   2022-11-23T23:59:59+00:00
Accession:  0001193125-22-292004
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Akamai enters new $500M revolving credit facility maturing Nov 2027, replaces existing facility
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- New $500M revolving credit agreement with JPMorgan as administrative agent, matures Nov 22, 2027.
- Replaces existing $500M facility that was scheduled to mature May 10, 2023.
- Facility can be increased to up to $1 billion under specified circumstances.
- Financial covenant: maximum consolidated leverage ratio of 3.50:1.00 (step-up for material acquisitions).
- Interest rates: Term SOFR + 0.75%-1.125% margin based on leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086222/000119312522292004/0001193125-22-292004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086222/000119312522292004/d271055d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-292004

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