secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2021-12-16T23:59:59+00:00
Accession:  0001564590-21-060501
Event type: debt
Sentiment:  neutral
Materiality: 0.15
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics amends credit agreement to replace LIBOR with SOFR and other benchmarks
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- First Amendment to credit agreement transitions interest rate benchmarks from LIBOR to SOFR for USD loans and other local benchmarks for multi-currency loans.
- Total revolving commitments remain $200M; no change in maturity or financial covenants.
- Amendment effective Dec 10, 2021, upon execution and satisfaction of conditions including KYC documentation.
- Covers ten different currency-specific benchmarks including EURIBOR, SONIA, SARON, and others.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000156459021060501/0001564590-21-060501-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000156459021060501/mei-8k_20211210.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-060501

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