secwatch.observer — SEC 8-K summary
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Issuer:     Nuvera Communications, Inc. (NUVR)
CIK:        0000071557
Form:       8-K
Filed at:   2024-06-25T23:59:59+00:00
Accession:  0001513162-24-000083
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Nuvera enters $180M credit facility with CoBank; repays prior debt
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- New $180M facility: $125M term loan, $25M delayed draw term loan, $30M revolving credit.
- Maturity June 21, 2029; proceeds used to retire the 2022 Credit Agreement.
- Dividends capped at $3M/yr if leverage ≤4.25x; unlimited if ≤3.50x; no dividend if covenant breached.
- Financial covenants: max leverage ratio 6.0x initially, minimum debt service coverage ratio 2.0x.
- Interest: Base Rate + 1.75%-3.00% or Term SOFR + 2.75%-4.00% based on leverage tier.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/71557/000151316224000083/0001513162-24-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/71557/000151316224000083/nuvr-20240621.htm
  HTML page:      https://secwatch.observer/filing/0001513162-24-000083

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