secwatch.observer — SEC 8-K summary
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Issuer:     ONESPAWORLD HOLDINGS Ltd (OSW)
CIK:        0001758488
Form:       8-K
Filed at:   2024-09-25T23:59:59+00:00
Accession:  0001193125-24-225159
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OneSpaWorld closes $150M credit facilities with Bank of America, repays prior debt
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- Term loan of $100M fully drawn; $50M revolving facility undrawn at closing.
- Proceeds used to repay all outstanding indebtedness under prior First Lien Credit Agreement with Goldman Sachs.
- Facilities mature Sept 20, 2029; interest at Term SOFR + 1.90% (step-ups to 2.65% based on leverage).
- Financial covenants: max total leverage ratio 4.00:1.00 and min fixed charge coverage ratio 1.25:1.00.
- Quarterly amortization of 1.25% of original principal begins after Q2 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758488/000119312524225159/0001193125-24-225159-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758488/000119312524225159/d816017d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-225159

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