{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-280257","form_type":"8-K","ticker":"BLBD","cik":"0001589526","company_name":"Blue Bird Corp","filed_at":"2023-11-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.667494+00:00","generated_at":"2026-06-07T23:22:09.567080+00:00","sec_items":["1.01","1.02","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Blue Bird closes $100M term loan and $150M revolver, replaces 2016 credit facility","bullets":["New $100M senior secured term loan and $150M revolving credit facility, both maturing Nov 17, 2028.","Proceeds used to repay and terminate the existing December 2016 credit agreement.","Interest margins: base rate +0.75%-2.25% or SOFR +1.75%-3.25%, based on leverage; initial spread 2.00%/3.00%.","Financial covenants: total leverage ≤3.00x and fixed charge coverage ≥1.20x quarterly.","CFO states refinancing provides stability and flexibility to execute profitable-growth plans."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-280257","json":"https://secwatch.observer/filing/0001193125-23-280257.json","markdown":"https://secwatch.observer/filing/0001193125-23-280257.md","text":"https://secwatch.observer/filing/0001193125-23-280257.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/0001193125-23-280257-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/d828280d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T23:22:09.567080+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"59ba08a8edd9821b7efc888cc0a643e5ef83348e","claim":"Blue Bird Corp incurred revolving credit of $150.0 million with Bank of Montreal at Secured Overnight Financing Rate plus an applicable margin of between 1.75% to 3 maturing November 17, 2028.","evidence_excerpt":"(ii) a senior secured revolving credit facility in an aggregate principal amount of $150.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/0001193125-23-280257-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$150.0 million"},{"label":"Counterparty","value":"Bank of Montreal"},{"label":"Rate","value":"Secured Overnight Financing Rate plus an applicable margin of between 1.75% to 3"},{"label":"Maturity","value":"November 17, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a8d074208b8e60860cccf8e2f04ba7438ba19c05","claim":"Blue Bird Corp incurred credit facility of $100.0 million with Bank of Montreal at Secured Overnight Financing Rate plus an applicable margin of between 1.75% to 3 maturing November 17, 2028.","evidence_excerpt":"the Credit Agreement provides for (i) a senior secured term loan A facility in an aggregate principal amount of $100.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/0001193125-23-280257-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$100.0 million"},{"label":"Counterparty","value":"Bank of Montreal"},{"label":"Rate","value":"Secured Overnight Financing Rate plus an applicable margin of between 1.75% to 3"},{"label":"Maturity","value":"November 17, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"816c4de77a92ed9411d3558c1fd206a7cd0e9763","claim":"Blue Bird Corp terminated Existing Credit Agreement with Bank of Montreal, as administrative agent (effective 2023-11-17).","evidence_excerpt":"On November 17, 2023, in connection with the incurrence of the Senior Secured Credit Facilities under the Credit Agreement, the Company prepaid, without penalty or premium, in full, all outstanding obligations due pursuant to, and terminates all commitments under, the Existing Credit Agreement (which was scheduled to mature on December 31, 2024), except for obligations under the Existing Credit Agreement that, pursuant to the express terms of the Existing Credit Agreement, survive payment of the obligations (such prepayment in full and termination, the “ Refinancing ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/0001193125-23-280257-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of Montreal, as administrative agent"},{"label":"Effective","value":"2023-11-17"}],"fact_type":"material_agreement"},{"claim_id":"dc72cdd4352bbfcd38d4f1e96d79acdea862bd74","claim":"Blue Bird Corp entered into Credit Agreement with Bank of Montreal, as administrative agent valued at $100.0 million ... and ... $150.0 million (effective 2023-11-17).","evidence_excerpt":"On November 17, 2023, Blue Bird Corporation, a Delaware corporation (the “ Company ”), and Blue Bird Body Company, a Georgia corporation and an indirect subsidiary of the Company (the “ Borrower ”), entered into a credit agreement (the “ Credit Agreement ”), by and among the Company, the Borrower, the other subsidiaries of the Company party thereto, the other financial institutions party thereto, Bank of Montreal, as administrative agent, and the other parties specified therein.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/0001193125-23-280257-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of Montreal, as administrative agent"},{"label":"Value","value":"$100.0 million ... and ... $150.0 million"},{"label":"Effective","value":"2023-11-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}