secwatch.observer — SEC 8-K summary
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Issuer:     GENERAC HOLDINGS INC. (GNRC)
CIK:        0001474735
Form:       8-K
Filed at:   2022-06-30T23:59:59+00:00
Accession:  0001437749-22-016225
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Generac enters $750M term loan and $1.25B revolver, repays $250M of existing term loans
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- Third Amendment establishes $750M 2022 Tranche A Term Loan and $1.25B revolving credit facility, maturing June 29, 2027.
- Used $250M of new Term A Loans to prepay existing Term B Loans; total outstanding Term B Loans reduced from $780M to $530M.
- ABL revolving credit facility ($0 balance) prepaid and terminated; all obligations thereunder discharged.
- New facilities bear interest at SOFR/SONIA plus 1.25%-1.75% margin; existing Term B Loans switched to SOFR plus 1.75%.
- Financial covenants: total leverage ratio ≤ 3.75x (4.25x after large acquisitions) and interest coverage ratio ≥ 3.00x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474735/000143774922016225/0001437749-22-016225-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474735/000143774922016225/gnrc20220629_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-016225

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