secwatch.observer — SEC 8-K summary
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Issuer:     Priority Technology Holdings, Inc. (PRTH)
CIK:        0001653558
Form:       8-K
Filed at:   2024-05-21T23:59:59+00:00
Accession:  0001653558-24-000073
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Priority Technology enters $905M credit facilities, redeems $170M preferred stock
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- $835M term loan and $70M revolver with Truist Bank as agent; total commitments $905M.
- Proceeds refinance existing credit agreement and redeem $170M of senior preferred stock.
- Interest on term loan at SOFR+4.75%; revolver margin ranges SOFR+3.75%-4.25% based on leverage.
- Financial covenant: max Total Net Leverage Ratio of 6.90x through Q4 2025, then 6.40x.
- Existing credit agreement terminated; full Credit Agreement filed as Exhibit 10.1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1653558/000165355824000073/0001653558-24-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1653558/000165355824000073/prth-20240516.htm
  HTML page:      https://secwatch.observer/filing/0001653558-24-000073

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