secwatch.observer — SEC 8-K summary
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Issuer:     NEWELL BRANDS INC. (NWL)
CIK:        0000814453
Form:       8-K
Filed at:   2023-03-31T23:59:59+00:00
Accession:  0001193125-23-086855
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Newell Brands amends credit agreement, lowers interest coverage covenant to 3.00x for four quarters
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- Interest Coverage Ratio reduced from 3.50x to 3.00x for fiscal quarters ending June 30, Sep 30, Dec 31, 2023 and Mar 31, 2024.
- Covenant reverts to 3.50x after March 31, 2024.
- Consolidated EBITDA definition expanded to include non-cash stock compensation expenses.
- Amendment executed March 27, 2023 with required lenders; no default or event of default occurred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814453/000119312523086855/0001193125-23-086855-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814453/000119312523086855/d478641d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-086855

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