secwatch.observer — SEC 8-K summary
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Issuer:     SUBURBAN PROPANE PARTNERS LP (SPH)
CIK:        0001005210
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001193125-24-069719
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Suburban Propane refinances $500M credit facility, extends maturity to 2029
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- New $500M revolving credit facility executed March 15, 2024, matures March 15, 2029 (or 91 days before 2027 notes).
- Existing $187.9M borrowings rolled into new facility; ability to increase total size to $850M.
- Financial covenants maintained: interest coverage >=2.50x, total leverage <=5.75x, senior secured leverage <=3.25x.
- Bank syndication includes Bank of America, Wells Fargo, JP Morgan, Citizens, Capital One, M&T, HSBC, CoBank.
- Refinancing extends maturity from March 2025, providing enhanced financial flexibility for strategic growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1005210/000119312524069719/0001193125-24-069719-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1005210/000119312524069719/d747502d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-069719

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