secwatch.observer — SEC 8-K summary
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Issuer:     MARRIOTT INTERNATIONAL INC /MD/ (MAR)
CIK:        0001048286
Form:       8-K
Filed at:   2022-12-15T23:59:59+00:00
Accession:  0001193125-22-306017
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marriott amends $4.5B credit facility, extends maturity to Dec 2027, moves to SOFR
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- Sixth Amended and Restated Credit Agreement entered Dec 14, 2022, extending maturity from June 2024 to Dec 2027.
- Replaces LIBOR-based rates with SOFR-based rates and other alternative currency rates.
- Adjusts maximum quarterly leverage ratio and EBITDA calculation; permits future ESG-linked interest rate adjustments.
- Borrowings bear interest at SOFR plus spread based on Marriott's public debt rating; quarterly fees also based on rating.
- Prior material terms generally unchanged; customary events of default included.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1048286/000119312522306017/0001193125-22-306017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1048286/000119312522306017/d398413d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-306017

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