secwatch.observer — SEC 8-K summary
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Issuer:     DEVON ENERGY CORP/DE (DVN)
CIK:        0001090012
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001193125-23-082221
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Devon Energy enters $3B revolving credit facility with 2028 maturity
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- Replaces prior $2.75B facility; new $3B commitment subject to $750M increase.
- Matures March 24, 2028; three one-year extensions available with lender consent.
- Covenant: ratio of funded debt to total capitalization not to exceed 65%.
- Pricing grid uses debt ratings; e.g., Level III (BBB/Baa2) pays 125 bps over Term SOFR.
- Sub-limits: $300M for letters of credit, $50M for swing line loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090012/000119312523082221/0001193125-23-082221-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090012/000119312523082221/d480970d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-082221

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