{"schema_version":"secwatch.filing_event.v1","accession":"0001589526-26-000053","form_type":"8-K","ticker":"BLBD","cik":"0001589526","company_name":"Blue Bird Corp","filed_at":"2026-10-06T12:39:19+00:00","discovered_at":"2026-10-06T12:40:00.223350+00:00","generated_at":"2026-10-12T16:31:07.617464+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Blue Bird closes $600M credit refinancing, extends maturity to 2031, cuts margin","bullets":["New $600M senior secured facilities replace $250M: $300M revolver plus $300M delayed draw term loan; maturity extended from Nov 2028 to Sept 2031.","Margin cut to SOFR + 1.25%-2.25% from SOFR + 1.75%-3.25%; prior 0.10% credit spread adjustment eliminated.","$86M drawn at closing; $670M+ available liquidity; DDTL drawable for 24 months to fund capital projects, R&D, working capital.","Max total net leverage ratio raised to 3.25x, with temporary 0.50x step-up for four quarters after a qualifying $75M+ acquisition; accordion expanded to greater of $250M or 1.0x TTM EBITDA.","Micro Bird subsidiaries closed a $35M (CAD) TD Bank line on Sept 29, 2026, secured by a $30M (USD) BMO letter of credit."],"urls":{"canonical":"https://secwatch.observer/filing/0001589526-26-000053","json":"https://secwatch.observer/filing/0001589526-26-000053.json","markdown":"https://secwatch.observer/filing/0001589526-26-000053.md","text":"https://secwatch.observer/filing/0001589526-26-000053.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1589526/000158952626000053/0001589526-26-000053-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1589526/000158952626000053/blbd-20260930.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T16:31:07.617464+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}