Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Stellar Bancorp, Inc. amended revolving credit of $75 million with Frost Bank at prime rate quoted by The Wall Street Journal with a floor rate of 3.50% maturing December 13, 2024.
- Instrument
- revolving credit
- Principal
- $75 million
- Counterparty
- Frost Bank
- Rate
- prime rate quoted by The Wall Street Journal with a floor rate of 3.50%
- Maturity
- December 13, 2024
- Event
- amendment
Exact text from the filing
restates in its entirety the Company's Second Amended and Restated Loan Agreement, dated as of December 13, 2019, as amended and modified. The Amended Agreement provides for a $75 million revolving line of credit (the “Line of Credit”). Interest will accrue on outstanding borrowings under the Line of Credit at a per annum rate equal to the prime rate quoted by The
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Stellar Bancorp, Inc. amended Third Amended and Restated Loan Agreement with Frost Bank valued at $75 million (effective 2022-12-13).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Frost Bank
- Value
- $75 million
- Effective
- 2022-12-13
Exact text from the filing
On December 13, 2022, Stellar Bancorp, Inc. (the “Company”) entered into a Third Amended and Restated Loan Agreement (the “Amended Agreement”) with Frost Bank, as lender, and the Company as borrower.
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