secwatch.observer — SEC 8-K summary
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Issuer:     RBC Bearings INC (RBC)
CIK:        0001324948
Form:       8-K
Filed at:   2021-11-02T23:59:59+00:00
Accession:  0001213900-21-055859
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RBC Bearings completes acquisition of ABB's Dodge mechanical power transmission division
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- Acquired ABB's mechanical power transmission division (Dodge brand) on Nov 1, 2021 for an undisclosed cash purchase price.
- Funded acquisition with $1.3B term loan and $500M revolver from new Wells Fargo-led credit agreement maturing Nov 2, 2026.
- Also issued $500M 4.375% senior notes due 2029 and completed equity offerings (common and mandatory convertible preferred).
- Terminated existing credit agreement with no early termination penalties; new facility has 5.50x max leverage and 2.00x min interest coverage covenants.
- Proceeds used for acquisition, fees, expenses, and general corporate purposes; quarterly amortization of term loan begins March 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1324948/000121390021055859/0001213900-21-055859-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1324948/000121390021055859/ea149679-8k_rbcbearing.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-055859

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