secwatch.observer — SEC 8-K summary
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Issuer:     Leidos Holdings, Inc. (LDOS)
CIK:        0001336920
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001193125-23-069649
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leidos Holdings enters new $2.0B credit facility on March 10, 2023, refinances existing debt
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- New $1.0B term loan and $1.0B revolving credit facility, both maturing five years from March 10, 2023.
- Proceeds used to repay all indebtedness under prior credit agreement dated January 17, 2020.
- Interest rates: Term SOFR + margin based on credit rating; currently 1.250% for SOFR loans, commitment fee 0.125%.
- Financial covenants: max adjusted total debt/EBITDA of 3.75:1 (increased to 4.50:1 after material acquisition), min EBITDA/interest 3.50:1.
- No borrowings under revolving facility at closing; $2.0B total capacity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1336920/000119312523069649/0001193125-23-069649-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1336920/000119312523069649/d481040d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-069649

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