secwatch.observer — SEC 8-K summary
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Issuer:     Palo Alto Networks Inc (PANW)
CIK:        0001327567
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0001327567-23-000009
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palo Alto Networks enters $400M revolving credit facility, expandable to $750M
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- Unsecured $400M revolver, accordion up to $750M, matures April 13, 2028.
- Commitment fee 0.090%-0.150%; interest SOFR+1.00%-1.375% or Base Rate+0.00%-0.375%.
- Covenants: leverage ≤3.50x (4.00x post M&A) and interest coverage ≥3.00x.
- Sustainability-linked pricing adjustments up to 0.01% fee / 0.05% margin based on GHG targets.
- No initial borrowings; proceeds for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327567/000132756723000009/0001327567-23-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327567/000132756723000009/panw-20230413.htm
  HTML page:      https://secwatch.observer/filing/0001327567-23-000009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer