secwatch.observer — SEC 8-K summary
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Issuer:     Science Applications International Corp (SAIC)
CIK:        0001571123
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001571123-24-000022
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SAIC enters $510.25M new term loan B facility, refinances existing Tranche B loans
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- Sixth Amendment to credit agreement establishes Tranche B3 Loans of $510.25M, borrowed Feb 8, 2024.
- Proceeds used to refinance all existing Tranche B and Tranche B2 loans in full.
- New loans bear interest at Term SOFR plus 1.875% (or base rate plus 0.875%), maturing Feb 8, 2031.
- Quarterly amortization at 0.25% of original amount beginning July 31, 2024; 1% prepayment penalty for repricing before Aug 8, 2024.
- Loans secured by substantially all assets of SAIC and domestic subsidiaries; same covenants as existing credit agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1571123/000157112324000022/0001571123-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1571123/000157112324000022/saic-20240208.htm
  HTML page:      https://secwatch.observer/filing/0001571123-24-000022

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