secwatch.observer — SEC 8-K summary
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Issuer:     Kimball Electronics, Inc. (KE)
CIK:        0001606757
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001606757-24-000075
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kimball Electronics enters $100M term loan facility, amends credit agreement
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- Entered $100M term loan facility under amended credit agreement; term loan matures Dec 20, 2029, with quarterly repayments starting Mar 31, 2025.
- Existing $300M revolving credit commitment unchanged, maturity May 4, 2027; option to increase by $150M to $450M.
- Proceeds used to refinance existing debt and pay off $100M secondary facility; $100M drawn at closing.
- Subsidiary changes: KEI merged into Averna, KET to be dissolved, new KEJ entity formed and joined as loan party.
- Financial covenants unchanged: max leverage 3.0x (3.5x post-acquisition), min interest coverage 3.5x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606757/000160675724000075/0001606757-24-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606757/000160675724000075/ke-20241220.htm
  HTML page:      https://secwatch.observer/filing/0001606757-24-000075

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