secwatch.observer — SEC 8-K summary
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Issuer:     Southland Holdings, Inc. (SLND)
CIK:        0001883814
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0001829126-24-006622
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southland Holdings closes $160M senior secured credit facility with Callodine
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- $160M facility: $140M initial term loan + $20M delayed draw; matures Sept 2028.
- $96M of proceeds refinanced existing debt, including $74.5M Frost Bank revolver terminated.
- $37.8M will be available for general corporate purposes; $6.2M for transaction costs.
- Interest at 7.25% plus SOFR (floor 3%); quarterly amortization starting Dec 2024.
- Requires minimum liquidity of $20M; TTM EBITDA covenant tested if liquidity under $30M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883814/000182912624006622/0001829126-24-006622-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883814/000182912624006622/southlandhold_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-006622

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