secwatch.observer — SEC 8-K summary
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Issuer:     NEWELL BRANDS INC. (NWL)
CIK:        0000814453
Form:       8-K
Filed at:   2024-02-09T23:59:59+00:00
Accession:  0001193125-24-029292
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Newell Brands cuts revolver to $1B from $1.5B; adds asset-based covenants and security
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- Commitments reduced from $1.5 billion to $1.0 billion; new Total Net Leverage and Collateral Coverage covenants added.
- Maximum Total Net Leverage Ratio begins at 7.50x and steps down to 5.25x by Q3 2026.
- Collateral Coverage Test requires minimum 1.05x ratio of pledged asset value to revolver exposure.
- Company grants security interests in accounts receivable, inventory, equipment, and intellectual property.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814453/000119312524029292/0001193125-24-029292-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814453/000119312524029292/d664568d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-029292

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