secwatch.observer — SEC 8-K summary
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Issuer:     ADTRAN Holdings, Inc. (ADTN)
CIK:        0000926282
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0001193125-24-158388
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ADTRAN amends credit facility, adds $100M subline for German unit, relaxes cash covenant
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- Created a $100M subline under existing $400M revolver for German subsidiary Adtran Networks SE.
- German borrower can draw up to $75M initially; prepayment below threshold triggers permanent commitment reduction.
- Waived prior requirement for German entities to guarantee entire credit; now guarantee only the subline.
- Reduced minimum unrestricted cash covenant from $75M to $70M during Springing Covenant or Covenant Relief Periods.
- Total revolving commitments unchanged at $400M; US borrower retains $300M availability plus $50M term loan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/926282/000119312524158388/0001193125-24-158388-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/926282/000119312524158388/d817753d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-158388

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