secwatch.observer — SEC 8-K summary
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Issuer:     Global Water Resources, Inc. (GWRS)
CIK:        0001434728
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001434728-23-000326
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Global Water Resources issues $20M of 6.91% Senior Secured Notes due 2034
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- $20M aggregate principal of 6.91% Senior Secured Notes due Jan 3, 2034, sold to Jackson National Life Insurance.
- Proceeds to refinance existing debt, support capital investments, and for general corporate purposes.
- Notes secured by pledge of equity interests in subsidiaries; guaranteed by Global Water, LLC, Global Water Holdings, and West Maricopa Combine.
- Also entered Fourth Modification Agreement with Northern Trust to amend $15M revolver to reflect new notes.
- Debt service coverage ratio covenant 1.20:1 through June 2024, then 1.25:1; limits dividends if below threshold.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1434728/000143472823000326/0001434728-23-000326-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1434728/000143472823000326/gwrs-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001434728-23-000326

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