secwatch.observer — SEC 8-K summary
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Issuer:     AT&T INC. (T)
CIK:        0000732717
Form:       8-K
Filed at:   2025-11-03T23:59:59+00:00
Accession:  0001193125-25-262515
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AT&T enters $12B revolver and $17.5B term loan; funds may finance spectrum
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- New $12B revolver due Nov 2030, replaces 2022 facility; margin at 0.92% based on current BBB/Baa2/BBB+ ratings.
- $17.5B delayed draw term loan includes $6B 364-day and $11.5B two-year tranches; draw available until Nov 2026.
- Proceeds for general corporate purposes, including potential spectrum acquisitions.
- Net debt-to-EBITDA covenant set at 3.75x; applies from Q1 2026.
- Facility fees on revolver at 0.08% of commitments; commitment fee on term loan starts March 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/732717/000119312525262515/0001193125-25-262515-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/732717/000119312525262515/d935272d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-262515

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