secwatch.observer — SEC 8-K summary
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Issuer:     SCOTTS MIRACLE-GRO CO (SMG)
CIK:        0000825542
Form:       8-K
Filed at:   2022-04-14T23:59:59+00:00
Accession:  0001443984-22-000125
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Scotts Miracle-Gro enters $2.5B credit facility, replacing $2.3B prior facility
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- $2.5B senior secured facilities: $1.5B revolver + $1.0B term loan, maturing April 8, 2027.
- Replaces $2.3B Fifth Amended facility from July 2018; extends maturity by ~4 years.
- Leverage ratio covenant at 4.50:1.00; restricted payments limited if leverage >4.0:1.0.
- Proceeds refinance prior debt and fund general corporate purposes and working capital.
- Interest rates tied to Adjusted Term SOFR plus spread; initial spread on revolver 1.20%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/825542/000144398422000125/0001443984-22-000125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/825542/000144398422000125/smg-20220414.htm
  HTML page:      https://secwatch.observer/filing/0001443984-22-000125

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