secwatch.observer — SEC 8-K summary
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Issuer:     LIFETIME BRANDS, INC (LCUT)
CIK:        0000874396
Form:       8-K
Filed at:   2023-01-03T23:59:59+00:00
Accession:  0001628280-23-000094
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lifetime Brands amends term loan to replace LIBOR with SOFR-based interest rates
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- Entered Amendment No. 1 to Term Loan Agreement dated March 2, 2018, with JPMorgan as administrative agent.
- Replaces LIBOR-based rates with SOFR-based rates (Adjusted Daily Simple SOFR and Adjusted Term SOFR).
- Modifies provisions for determining an alternative rate of interest upon benchmark unavailability.
- Amendment effective December 29, 2022, subject to no objection from required lenders within 5 business days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874396/000162828023000094/0001628280-23-000094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874396/000162828023000094/lcut-20221229.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-000094

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