Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Fortrea Holdings Inc. incurred debt of $300 million with PNC Bank, National Association at one-month term secured overnight financing rate maturing May 6, 2027.
- Principal
- $300 million
- Counterparty
- PNC Bank, National Association
- Rate
- one-month term secured overnight financing rate
- Maturity
- May 6, 2027
- Event
- incurrence
Exact text from the filing
Fortrea Holdings Inc. (the “Company”), Fortrea Receivables LLC, a special purpose entity (the “SPE”) that is a wholly-owned indirect subsidiary of the Company, and Fortrea Inc., as originator (the “Originator”) and servicer (the “Servicer”), entered into a three-year, $300 million receivables securitization program (the “Receivables Facility”) with PNC Bank, National Association, as administrative agent (the “Administrative Agent”) and initial purchaser
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Fortrea Holdings Inc. amended Credit Amendment with Goldman Sachs Bank USA (effective 2024-05-03).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Goldman Sachs Bank USA
- Effective
- 2024-05-03
Exact text from the filing
on May 3, 2024, the Company entered into an amendment (the “Credit Amendment”) to modify certain financial covenants to provide the Company with additional flexibility under the Company’s credit agreement dated as of June 30, 2023
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Fortrea Holdings Inc. entered into Receivables Purchase Agreement with PNC Bank, National Association valued at $300 million (effective 2024-05-06).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- PNC Bank, National Association
- Value
- $300 million
- Effective
- 2024-05-06
Exact text from the filing
On May 6, 2024 (the “Closing Date”), Fortrea Holdings Inc. (the “Company”), Fortrea Receivables LLC, a special purpose entity (the “SPE”) that is a wholly-owned indirect subsidiary of the Company, and Fortrea Inc., as originator (the “Originator”) and servicer (the “Servicer”), entered into a three-year, $300 million receivables securitization program
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Fortrea Holdings Inc. entered into Sale and Contribution Agreement with Fortrea Inc. (effective 2024-05-06).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Fortrea Inc.
- Effective
- 2024-05-06
Exact text from the filing
Pursuant to a Sale and Contribution Agreement, dated as of the Closing Date, (the “Sale and Contribution Agreement”), among the Originator, the Servicer and the SPE, the Originator will sell or contribute accounts receivable and certain related assets
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