secwatch.observer — SEC 8-K summary
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Issuer:     DEVON ENERGY CORP/DE (DVN)
CIK:        0001090012
Form:       8-K
Filed at:   2024-08-12T23:59:59+00:00
Accession:  0001193125-24-198887
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Devon Energy enters into $2 billion delayed draw term loan credit agreement for Grayson Mill acquisition
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- Entered into credit agreement on Aug 12, 2024, providing up to $2 billion in delayed draw term loans.
- Includes a 364-day tranche of up to $500 million and a two-year tranche of up to $1.5 billion.
- Loan proceeds will fund a portion of cash consideration for the acquisition of Grayson Mill Intermediate HoldCo II and III.
- Bank of America, N.A. serves as administrative agent with multiple syndication agents.
- Borrower must maintain a funded debt to total capitalization ratio no greater than 65%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090012/000119312524198887/0001193125-24-198887-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090012/000119312524198887/d746922d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-198887

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