secwatch.observer — SEC 8-K summary
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Issuer:     FUELCELL ENERGY INC (FCEL)
CIK:        0000886128
Form:       8-K
Filed at:   2023-08-24T23:59:59+00:00
Accession:  0001558370-23-015262
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FuelCell Energy closes $20M back leverage financing for Groton project
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- Borrowed $12M senior and $8M subordinated loans; net proceeds ~$19.6M after fees.
- Used $1.7M for DSCR reserves, $6.5M for O&M reserves, $0.3M sub DSCR reserve; $11.1M released to FCEL.
- $3.0M used to repay Conn. Green Bank loan, terminating that agreement.
- Senior loan: Liberty 6.75%, Amalgamated 6.07% (or 7.32% if carbon offset not bought); Sub 8% step-down.
- Seven-year senior term, 20-year sub; collateral includes project company assets; FCEL guarantees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/fcel-20230818x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-015262

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