{"schema_version":"secwatch.filing_event.v1","accession":"0001654954-25-012528","form_type":"8-K","ticker":"EML","cik":"0000031107","company_name":"EASTERN CO","filed_at":"2025-11-03T23:59:59+00:00","discovered_at":"2026-05-14T18:02:41.677316+00:00","generated_at":"2026-05-17T00:58:47.156389+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"The Eastern Company enters $100M revolving credit facility with Citizens Bank, repays prior TD Bank facility","bullets":["New $100M five-year senior secured revolving credit facility with $75M accordion feature, maturing October 28, 2030.","Borrowed $36M at closing to repay and terminate prior $60M term loan / $50M revolver with TD Bank (June 2023).","Pricing at SOFR plus 1.375%-2.125% margin based on Senior Net Leverage Ratio; current margin 1.375%.","Financial covenants: Senior Net Leverage Ratio ≤ 3.50x (step-up to 4.00x for acquisitions) and Interest Coverage ≥ 3.00x.","Commitment fee on unused portion ranges from 0.200% to 0.275%, currently 0.200%."],"urls":{"canonical":"https://secwatch.observer/filing/0001654954-25-012528","json":"https://secwatch.observer/filing/0001654954-25-012528.json","markdown":"https://secwatch.observer/filing/0001654954-25-012528.md","text":"https://secwatch.observer/filing/0001654954-25-012528.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/31107/000165495425012528/0001654954-25-012528-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/31107/000165495425012528/eml_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T00:58:47.156389+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":[{"claim_id":"6c0eca56042312c1a0b70332248db59e02b5f4eb","claim":"EASTERN CO incurred revolving credit of $100 million with Citizens Bank, N.A. at term SOFR plus an applicable margin varying from 1.375% to 2.125% maturing October 28, 2030.","evidence_excerpt":"loans, swing line loans and letters of credit, at any time and from time to time during the term of the Credit Agreement. The Credit Agreement provides the Company with a $100 million five-year senior secured revolving credit facility. Under the revolving credit facility, up to $5 million is available for letters of credit and up to $5 million is available for","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/31107/000165495425012528/0001654954-25-012528-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$100 million"},{"label":"Counterparty","value":"Citizens Bank, N.A."},{"label":"Rate","value":"term SOFR plus an applicable margin varying from 1.375% to 2.125%"},{"label":"Maturity","value":"October 28, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}