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

Issuer:     Callaway Golf Co (CALY)
CIK:        0000837465
Form:       8-K
Filed at:   2023-03-21T23:59:59+00:00
Accession:  0001193125-23-075748
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Topgolf Callaway enters new $525M ABL and $1.25B term loan facilities
---------------------------------------------------------------------

- New ABL facility of up to $525M matures March 16, 2028; replaces existing ABL agreement.
- New term loan facility of $1.25B (less $12.5M OID) matures March 16, 2030; rate SOFR+3.25-3.50%.
- Proceeds used to repay outstanding balances under prior Topgolf Callaway Brands Term Loan and Topgolf Credit Agreement.
- ABL facility requires fixed charge coverage ratio ≥1.00:1.00 when availability falls below 10% of facility max.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/837465/000119312523075748/0001193125-23-075748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/837465/000119312523075748/d485113d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-075748

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