{"schema_version":"secwatch.filing_event.v1","accession":"0001370637-23-000030","form_type":"8-K","ticker":"ETSY","cik":"0001370637","company_name":"ETSY INC","filed_at":"2023-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:44.654271+00:00","generated_at":"2026-06-17T14:35:42.388938+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Etsy enters $400M senior secured revolving credit facility maturing 2028","bullets":["New $400M revolver replaces 2019 facility; matures March 2028; $60M LC and $20M swingline sublimits.","Interest at SOFR + 1.50%-2.25% or base rate + 0.50%-1.25%; unused commitment fee 0.20%-0.35%.","Financial covenant: senior secured net leverage ≤3.50x, can step to 4.00x for material acquisitions.","No borrowings drawn at March 27, 2023; negative covenants restrict debt, dividends, and stock buybacks.","Obligations secured by all or substantially all assets of Etsy and domestic subsidiaries."],"urls":{"canonical":"https://secwatch.observer/filing/0001370637-23-000030","json":"https://secwatch.observer/filing/0001370637-23-000030.json","markdown":"https://secwatch.observer/filing/0001370637-23-000030.md","text":"https://secwatch.observer/filing/0001370637-23-000030.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1370637/000137063723000030/0001370637-23-000030-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1370637/000137063723000030/etsy-20230324.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T14:35:42.388938+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"67442ad3c2cc9626e34b764e368b1e35d4e79abd","claim":"ETSY INC incurred revolving credit of $400.0 million with lenders party thereto, with JPMorgan Chase Bank N.A. as administrative agent at adjusted Term SOFR rate plus a margin ranging from 1.50% to 2.25% (or base rate maturing March 2028.","evidence_excerpt":"On March 24, 2023, Etsy, Inc. (“Etsy”) entered into a $400.0 million senior secured revolving credit facility pursuant to an Amended and Restated Credit Agreement (the “2023 Credit Agreement”) among Etsy, as borrower, certain subsidiaries of Etsy party thereto as guarantors, the lenders party thereto and JPMorgan Chase Bank N.A., as administrative Agent.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1370637/000137063723000030/0001370637-23-000030-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$400.0 million"},{"label":"Counterparty","value":"lenders party thereto, with JPMorgan Chase Bank N.A. as administrative agent"},{"label":"Rate","value":"adjusted Term SOFR rate plus a margin ranging from 1.50% to 2.25% (or base rate"},{"label":"Maturity","value":"March 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"70e0cab2e9188cc538e9ac19179703b6b3d1d60e","claim":"ETSY INC entered into 2023 Credit Agreement with JPMorgan Chase Bank N.A., as administrative agent, and the lenders party thereto valued at $400.0 million (effective 2023-03-24).","evidence_excerpt":"On March 24, 2023, Etsy, Inc. (“Etsy”) entered into a $400.0 million senior secured revolving credit facility pursuant to an Amended and Restated Credit Agreement (the “2023 Credit Agreement”) among Etsy, as borrower, certain subsidiaries of Etsy party thereto as guarantors, the lenders party thereto and JPMorgan Chase Bank N.A., as administrative Agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1370637/000137063723000030/0001370637-23-000030-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank N.A., as administrative agent, and the lenders party thereto"},{"label":"Value","value":"$400.0 million"},{"label":"Effective","value":"2023-03-24"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}