secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2025-03-10T23:59:59+00:00
Accession:  0001840776-25-000041
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty enters $375M unsecured revolving credit facility, replaces prior $50.3M debt
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- Entered $375M senior unsecured revolving credit facility with JPMorgan as agent; five-year term expires March 2025.
- Facility includes $175M LC sublimit, $100M foreign currency sublimit, and $75M accordion feature.
- Proceeds used to repay $50.3M outstanding under prior secured credit agreement, which was terminated.
- Interest based on Term SOFR plus margin (net leverage pricing grid); financial covenants: net leverage ≤3.25x and fixed charge coverage.
- Accordion can be increased unlimited if net leverage below 3.25x; uncommitted accordion of $75M also available.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077625000041/0001840776-25-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077625000041/hgty-20250307.htm
  HTML page:      https://secwatch.observer/filing/0001840776-25-000041

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