secwatch.observer — SEC 8-K summary
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Issuer:     Trade Desk, Inc. (TTD)
CIK:        0001671933
Form:       8-K
Filed at:   2026-04-20T23:59:59+00:00
Accession:  0001671933-26-000038
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Trade Desk enters $750M revolving credit facility maturing 2031, can be upsized to $1.5B
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- $750M revolving facility matures April 14, 2031; includes $100M letter of credit and $75M swingline sublimits.
- Company may increase facility by up to $750M additional with lender consent.
- Borrowings bear interest at Base Rate or term SOFR plus margin (0.125%-0.500% Base, 1.125%-1.500% SOFR).
- Facility secured by substantially all assets; collateral release if investment-grade ratings achieved.
- Covenant requires max consolidated funded net debt to EBITDA of 3.50x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1671933/000167193326000038/0001671933-26-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1671933/000167193326000038/ttd-20260414.htm
  HTML page:      https://secwatch.observer/filing/0001671933-26-000038

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