secwatch.observer — SEC 8-K summary
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Issuer:     LANDSTAR SYSTEM INC (LSTR)
CIK:        0000853816
Form:       8-K
Filed at:   2026-07-06T20:42:07+00:00
Accession:  0001193125-26-296288
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Landstar enters $300M revolving credit facility maturing 2031, replacing prior agreement
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- $300M revolving credit facility with uncommitted accordion feature for up to $500M additional.
- Termination date June 30, 2031; no borrowings outstanding as of June 30, 2026.
- Financial covenants include minimum interest coverage and maximum net leverage ratios.
- Change of control default triggered if any person/group acquires 35%+ of Landstar's stock.
- Obligations guaranteed by substantially all of LSHI's subsidiaries; foreign stock pledges limited to 65% voting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/853816/000119312526296288/0001193125-26-296288-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/853816/000119312526296288/d110858d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-296288

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