secwatch.observer — SEC 8-K summary
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Issuer:     ILLUMINA, INC. (ILMN)
CIK:        0001110803
Form:       8-K
Filed at:   2024-06-17T23:59:59+00:00
Accession:  0001193125-24-162068
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Illumina enters $750M 364-day delayed draw credit facility for GRAIL divestiture funding
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- Credit facility of $750 million entered June 17, 2024, with JPMorgan as administrative agent.
- Proceeds to fund GRAIL's balance sheet in connection with planned GRAIL divestiture.
- Facility expected to be drawn in full on June 20, 2024, maturing June 19, 2025.
- Interest rate variable: currently approx 6.70%; based on SOFR or base rate plus spread.
- No borrowings outstanding as of filing; covenant includes max total leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110803/000119312524162068/0001193125-24-162068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110803/000119312524162068/d840320d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-162068

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