secwatch.observer — SEC 8-K summary
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Issuer:     Leonardo DRS, Inc. (DRS)
CIK:        0001833756
Form:       8-K
Filed at:   2026-01-28T23:59:59+00:00
Accession:  0001833756-26-000007
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leonardo DRS enters $500M revolving credit facility, replaces prior credit agreement
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- Five-year $500M senior unsecured revolving credit facility with JPMorgan; initial SOFR margin 1.250%.
- Replaces Nov 2022 credit agreement; no borrowings outstanding at termination, no penalties incurred.
- Proceeds may be used for working capital, general corporate purposes, and share repurchases.
- Covenants: max total net leverage 3.75:1 (4.00:1 for material acquisitions) and min net interest coverage 3.00:1.
- Certain U.S. subsidiaries guarantee the obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833756/000183375626000007/0001833756-26-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833756/000183375626000007/drs-20260128.htm
  HTML page:      https://secwatch.observer/filing/0001833756-26-000007

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