secwatch.observer — SEC 8-K summary
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Issuer:     WATERS CORP /DE/ (WAT)
CIK:        0001000697
Form:       8-K
Filed at:   2025-05-29T23:59:59+00:00
Accession:  0001193125-25-130641
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Waters Corp amends credit facility; removes $200M term loan, retains $1.8B revolver through 2030
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- Removed existing $200M term loan; retained $1.8B senior unsecured revolving credit facility maturing May 22, 2030.
- May request up to $750M incremental commitments (total cap $2.55B); up to $50M available for letters of credit.
- Interest spreads: Term SOFR + 80–112.5 bps; facility fee 7.5–22.5 bps based on leverage or debt ratings.
- Leverage covenant max 3.50x (can rise to 4.25x for acquisitions ≥$500M cash consideration).
- JPMorgan Chase remains administrative agent; subsidiaries guarantee obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000697/000119312525130641/0001193125-25-130641-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000697/000119312525130641/d828462d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-130641

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