debt
confidence high
sentiment neutral
materiality 0.40
New York Times enters $400M revolving credit facility, maturing June 2030
NEW YORK TIMES CO
- New credit agreement upsizes prior $350M facility to $400M; no initial borrowing.
- Five-year term through June 13, 2030; covenants include max leverage ratio of 3.50x (4.00x after material acquisition).
- Facility is unsecured; replaces prior 2022 credit agreement.
- Dividends and share repurchases permitted if pro forma compliance with covenant and no default.