secwatch.observer — SEC 8-K summary
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Issuer:     SoFi Technologies, Inc. (SOFI)
CIK:        0001818874
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001818874-23-000081
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

SoFi enters amended $550M revolver, borrows $486M to repay existing debt; appoints John Hele to board
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- Amended and restated revolving credit agreement with $550M capacity; $100M available for letters of credit.
- Borrowed $486M at closing to repay all amounts outstanding under existing credit agreement.
- Maturity extended to five years from April 28, 2023; benchmark rate switched from LIBOR to Term SOFR plus 0.10% spread.
- John Hele appointed to board, effective May 1, 2023; term expires at 2023 annual meeting.
- Hele is President of Resolution Life Group Holdings and former MetLife CFO; will serve on risk committee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818874/000181887423000081/0001818874-23-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818874/000181887423000081/sofi-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001818874-23-000081

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