secwatch.observer — SEC 8-K summary
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Issuer:     RH (RH)
CIK:        0001528849
Form:       8-K
Filed at:   2022-05-17T23:59:59+00:00
Accession:  0001558370-22-009063
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RH closes $500M incremental term loan; completes $480M convertible note and warrant unwind
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- RHI subsidiary incurred $500M incremental term debt due Oct 2028 at SOFR+3.35% (incl. 0.10% CS adj.), issued at 5% discount.
- After-tax interest on new debt ~$4.5M/quarter; aggregate $2.5B term debt interest estimated ~$17M/quarter at current rates.
- Completed repurchase of $180M convertible notes and termination of all note warrants and convertible hedges for net cash outlay ~$480M.
- Proceeds from new debt for general corporate purposes; debt rated Ba3/BB (Moody's/S&P).
- Approximately $101M of convertible notes remain outstanding after the repurchases.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1528849/000155837022009063/0001558370-22-009063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1528849/000155837022009063/rh-20220513x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-009063

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