secwatch.observer — SEC 8-K summary
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Issuer:     Blue Bird Corp (BLBD)
CIK:        0001589526
Form:       8-K
Filed at:   2023-11-20T23:59:59+00:00
Accession:  0001193125-23-280257
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Bird closes $100M term loan and $150M revolver, replaces 2016 credit facility
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/0001193125-23-280257-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589526/000119312523280257/d828280d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-280257

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