secwatch.observer — SEC 8-K summary
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Issuer:     Mueller Water Products, Inc. (MWA)
CIK:        0001350593
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001350593-24-000025
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Mueller Water extends ABL maturity to 2029, cuts interest 50bps, expands dividend flexibility
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- Maturity extended from July 29, 2025 to March 28, 2029 or 91 days before June 2029 senior note maturity.
- Interest margins reduced ~50bps to 1.50% (SOFR)/0.50% (base rate) when avg availability >50% of commitments.
- Unused commitment fee: 37.5bps if outstandings ≤50% of commitments, 25bps if >50%.
- Add-backs in EBITDA calculation; new basket for captive insurance subsidiary investments permitted.
- Expanded baskets for cash dividends on common stock in fiscal years 2026-2029.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1350593/000135059324000025/0001350593-24-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1350593/000135059324000025/mwa-20240328.htm
  HTML page:      https://secwatch.observer/filing/0001350593-24-000025

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