secwatch.observer — SEC 8-K summary
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Issuer:     SPX Technologies, Inc. (SPXC)
CIK:        0000088205
Form:       8-K
Filed at:   2025-09-11T23:59:59+00:00
Accession:  0001410578-25-002044
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPX Technologies closes $2.025B senior secured credit facility refinancing, maturing 2030
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- New facility includes $500M term loan, $1.5B revolver, and $25M foreign credit instrument facility.
- Maturity date extended to September 9, 2030; proceeds used to repay existing credit agreement debt.
- Interest rate margins based on consolidated leverage ratio; range from 1.25% to 1.75% for Term SOFR loans.
- Financial covenants: interest coverage ratio >=3.00x, leverage ratio <=3.75x (4.25x post-acquisition).
- Facility is secured by first-priority pledge of domestic subsidiary stock and 65% of foreign subsidiary stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88205/000141057825002044/0001410578-25-002044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88205/000141057825002044/tm2525695d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001410578-25-002044

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