{"schema_version":"secwatch.filing_event.v1","accession":"0001965040-23-000015","form_type":"8-K","ticker":"FTRE","cik":"0001965040","company_name":"Fortrea Holdings Inc.","filed_at":"2023-06-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.633592+00:00","generated_at":"2026-06-13T14:25:37.117298+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Fortrea issues $570M notes and enters $1.52B credit facilities to fund spin-off from Labcorp","bullets":["Issued $570M 7.500% Senior Secured Notes due 2030 at par; proceeds escrowed pending spin-off completion by Sept 30, 2023.","Entered $1.52B Senior Secured Credit Facilities: $450M revolver, $500M Term A loan, $570M Term B loan; SOFR+1.50%-3.75% spreads.","Initial borrowings of ~$1.64B (notes + term loans) to fund $1.635B special dividend to Labcorp and transaction fees.","Established $80M accounts receivable purchase program; sold $17.5M of receivables on June 28, 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001965040-23-000015","json":"https://secwatch.observer/filing/0001965040-23-000015.json","markdown":"https://secwatch.observer/filing/0001965040-23-000015.md","text":"https://secwatch.observer/filing/0001965040-23-000015.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000015/0001965040-23-000015-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000015/ftre-20230627.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T14:25:37.117298+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"730167eeaa0a282cff1378735e67a38bd2e52b6a","claim":"Fortrea Holdings Inc. incurred senior notes of $570 million aggregate principal amount with U.S. Bank Trust Company, National Association at 7.500% per annum maturing July 1, 2030.","evidence_excerpt":"issued $570 million aggregate principal amount of 7.500% Senior Secured Notes due 2030","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000015/0001965040-23-000015-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$570 million aggregate principal amount"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Rate","value":"7.500% per annum"},{"label":"Maturity","value":"July 1, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}