---
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"
generated_at: "2026-05-17T00:58:47.156389+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# The Eastern Company enters $100M revolving credit facility with Citizens Bank, repays prior TD Bank facility

## Summary
- 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%.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-25-012528
- JSON: https://secwatch.observer/filing/0001654954-25-012528.json
- Plain text: https://secwatch.observer/filing/0001654954-25-012528.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: $100 million
  - Counterparty: Citizens Bank, N.A.
  - Rate: term SOFR plus an applicable margin varying from 1.375% to 2.125%
  - Maturity: October 28, 2030
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/31107/000165495425012528/0001654954-25-012528-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.