secwatch.observer — SEC 8-K summary
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Issuer:     PERDOCEO EDUCATION Corp (PRDO)
CIK:        0001046568
Form:       8-K
Filed at:   2021-09-13T23:59:59+00:00
Accession:  0001564590-21-047683
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Perdoceo Education enters $125M senior secured revolving credit facility with Wintrust Bank
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- New $125M senior secured revolving credit facility replaces prior $50M facility maturing Jan 2022.
- Facility matures Sept 8, 2024; allows up to $50M increase in commitments.
- No revolving loans drawn at closing; certain letters of credit rolled over from prior facility.
- Interest at prime minus 1% (floor 4%); secured by substantially all assets and minimum domestic cash of $156.25M.
- Borrower and guarantors must maintain at least $156.25M domestic cash at all times.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1046568/000156459021047683/0001564590-21-047683-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1046568/000156459021047683/prdo-8k_20210908.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-047683

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