secwatch.observer — SEC 8-K summary
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Issuer:     PARSONS CORP (PSN)
CIK:        0000275880
Form:       8-K
Filed at:   2025-06-05T23:59:59+00:00
Accession:  0001193125-25-135958
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parsons refinances with $450M term loan and $750M revolver, extending maturities
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- New $450M unsecured term loan (3-year maturity, no amortization) with $150M accordion; proceeds used to repay existing $350M term loan.
- New $750M unsecured revolving credit facility (5-year maturity) with $500M accordion; replaces the previous 2021 revolver which was paid off.
- Initial interest rates set at mid-range: Term SOFR + 1.125% or Base Rate + 0.125% for term loan; similar pricing for revolver.
- Transactions extend debt maturities from October 2025/June 2026 to June 2028/June 2030.
- Proceeds also available for working capital, capex, and general corporate purposes; no borrowings under new revolver at closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/275880/000119312525135958/0001193125-25-135958-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/275880/000119312525135958/d43746d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-135958

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