secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2022-06-06T23:59:59+00:00
Accession:  0001437749-22-014442
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction enters $350M credit facility amendment, extends maturity to 2027
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- $350M revolver with letter of credit sublimit of $150M and financial LC sublimit of $75M.
- Maturity extended to June 2, 2027; LIBOR replaced with SOFR for interest calculations.
- Interest rate margins: 1.00%-2.00% for Term SOFR loans; 0.00%-1.00% for Base Rate loans.
- Financial covenants: min interest coverage ratio 3.00x, max leverage ratio 3.25x (3.75x post-acquisition).
- ESG performance targets may adjust commitment fee by 0.001% and interest rate by 0.005%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000143774922014442/0001437749-22-014442-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000143774922014442/gva20220601_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-014442

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer