secwatch.observer — SEC 8-K summary
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Issuer:     STRYKER CORP (SYK)
CIK:        0000310764
Form:       8-K
Filed at:   2025-02-27T23:59:59+00:00
Accession:  0001193125-25-039302
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stryker enters $3.0B revolving credit facility maturing 2030, replacing prior deal
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- $3.0B aggregate commitments with maturity February 25, 2030.
- Covenant: max leverage ratio 3.75:1; acquisition holiday permits 4.75:1 for four quarters.
- Facility fee 7-15 bps on undrawn; interest margins 0-10 bps (Base Rate) to 68-110 bps (Eurocurrency).
- Replaces October 2021 credit agreement; terms substantially similar.
- Margins based on Issuer Rating; initial Pricing Level 3 (BBB+/Baa1).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/310764/000119312525039302/0001193125-25-039302-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/310764/000119312525039302/d904508d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-039302

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer