secwatch.observer — SEC 8-K summary
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Issuer:     Designer Brands Inc. (DBI)
CIK:        0001319947
Form:       8-K
Filed at:   2023-03-03T23:59:59+00:00
Accession:  0001319947-23-000009
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Designer Brands ups ABL facility to $600M, adds $30M FILO term loan
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- ABL facility increased from $550M to $600M; Canadian sublimit raised to $60M.
- New $30M first-in-last-out (FILO) term loan drawn in full on Feb 28, 2023.
- FILO loan matures March 30, 2027; interest at Prime+2.25% or SOFR+3.25%.
- Consolidated Fixed Charge Coverage Ratio trigger thresholds adjusted upward.
- Availability condition for covenant testing set at $47.25M or 10% of max credit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1319947/000131994723000009/0001319947-23-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1319947/000131994723000009/dbi-20230228.htm
  HTML page:      https://secwatch.observer/filing/0001319947-23-000009

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