secwatch.observer — SEC 8-K summary
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Issuer:     Mistras Group, Inc. (MG)
CIK:        0001436126
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0001436126-22-000036
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mistras enters $315M credit facility, upsizing by ~$100M and extending maturity to 2027
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- $125M term loan A plus $190M revolving credit facility; total borrowing capacity of $315M.
- Quarterly amortization reduced from $5M to $1.6M in years 1-2, $2.3M in year 3, $3.1M in years 4-5.
- Maximum leverage covenant increased to 4.0x EBITDA through Q2 2023, then 3.75x; prior limit was 3.5x.
- Effective credit spread lowered by 25 basis points; maturity extended to July 30, 2027 from December 2023.
- Company repaid ~$80M of debt since 2018; new facility supports growth in data solutions and renewables.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1436126/000143612622000036/0001436126-22-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1436126/000143612622000036/a8-kbankagreement.htm
  HTML page:      https://secwatch.observer/filing/0001436126-22-000036

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