secwatch.observer — SEC 8-K summary
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Issuer:     PAPA JOHNS INTERNATIONAL INC (PZZA)
CIK:        0000901491
Form:       8-K
Filed at:   2025-03-27T23:59:59+00:00
Accession:  0001628280-25-015167
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Papa John's closes $200M term loan, extends $600M revolver to 2030 in credit agreement amendment
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- New $200M senior secured term loan drawn at closing; proceeds used to repay existing revolver borrowings.
- $600M revolving credit facility extended to March 26, 2030; approximately $158.9M drawn as of March 26, 2025.
- Transaction is leverage neutral; financial covenants include max leverage 5.25x and $150M liquidity requirement prior to 2029 note maturity.
- Interest rates: SOFR + 1.25%-2.00% or base rate plus 0.25%-1.00%; accordion feature allows up to $500M additional commitments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/901491/000162828025015167/0001628280-25-015167-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/901491/000162828025015167/pzza-20250326.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-015167

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