---
schema_version: "secwatch.filing_event.v1"
accession: "0001428336-24-000098"
form_type: "8-K"
ticker: "HQY"
cik: "0001428336"
company_name: "HEALTHEQUITY, INC."
filed_at: "2024-08-27T23:59:59+00:00"
generated_at: "2026-05-31T07:22:31.422855+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# HealthEquity enters $1B credit facility, repays prior $512M debt

## Summary
- New $1,000,000,000 senior secured revolving credit facility entered Aug 23, 2024; $511.9M drawn to refinance prior debt.
- Prior 2021 credit agreement with $511.9M outstanding fully repaid and commitments terminated.
- Five-year maturity; includes $25M letter of credit sublimit and ability to incur up to $450M additional loans subject to leverage test.
- Interest at SOFR +1.25%-2.50% or base rate +0.25%-1.50%; commitment fee 0.25%-0.50%, based on leverage grid.
- Financial covenants: maximum total net leverage ratio 5.00:1 and minimum interest coverage ratio 3.00:1, effective Jan 31, 2025.

## SEC filing metadata
- accession: 0001428336-24-000098
- form_type: 8-K
- ticker: HQY
- cik: 0001428336
- company_name: HEALTHEQUITY, INC.
- filed_at: 2024-08-27T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1428336/000142833624000098/0001428336-24-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1428336/000142833624000098/hqy-20240823.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001428336-24-000098
- JSON: https://secwatch.observer/filing/0001428336-24-000098.json
- Plain text: https://secwatch.observer/filing/0001428336-24-000098.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.