---
schema_version: "secwatch.filing_event.v1"
accession: "0001261654-22-000076"
form_type: "8-K"
ticker: "UTI"
cik: "0001261654"
company_name: "UNIVERSAL TECHNICAL INSTITUTE INC"
filed_at: "2022-04-19T23:59:59+00:00"
generated_at: "2026-06-26T06:26:39.239143+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# UTI's subsidiary enters $38M term loan with Valley National Bank to refinance Lisle campus mortgage

## Summary
- Term loan principal $38M, matures in 7 years; interest at 1-month SOFR + 2.0%.
- Interest rate swap fixes rate at 4.69% on 50% of principal for full term.
- Parent UTI guarantees payment; covenants include fixed charge coverage ≥1.25x and debt/EBITDA ≤3.50x.
- Loan secured by mortgage on Lisle, IL campus; proceeds retire previous mortgage debt.
- Covenant testing begins June 30, 2022, quarterly for fixed charge coverage, annually for leverage.

## SEC filing metadata
- accession: 0001261654-22-000076
- form_type: 8-K
- ticker: UTI
- cik: 0001261654
- company_name: UNIVERSAL TECHNICAL INSTITUTE INC
- filed_at: 2022-04-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1261654/000126165422000076/0001261654-22-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1261654/000126165422000076/uti-20220414.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001261654-22-000076
- JSON: https://secwatch.observer/filing/0001261654-22-000076.json
- Plain text: https://secwatch.observer/filing/0001261654-22-000076.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.