{"schema_version":"secwatch.filing_event.v1","accession":"0001981599-25-000038","form_type":"8-K","ticker":"CTRI","cik":"0001981599","company_name":"Centuri Holdings, Inc.","filed_at":"2025-07-14T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.756569+00:00","generated_at":"2026-05-18T06:46:52.648292+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Centuri Holdings refinances debt with $800M term loan, extends revolver to 2030, lowers rate","bullets":["New $800M term loan facility maturing July 2032; $93.6M new money, $706.4M refinanced existing term loans.","Revolving credit facility increased to $450M (from $400M), maturity extended from Aug 2026 to July 2030.","Interest rate margin decreased by 0.25% to 2.25% (SOFR) and 1.25% (base rate).","Change in control covenant relaxed: Southwest Gas can go below 51% without triggering default.","Leverage covenant set at 4.50x through Sep 2026 then 4.00x; interest coverage min 2.50x."],"urls":{"canonical":"https://secwatch.observer/filing/0001981599-25-000038","json":"https://secwatch.observer/filing/0001981599-25-000038.json","markdown":"https://secwatch.observer/filing/0001981599-25-000038.md","text":"https://secwatch.observer/filing/0001981599-25-000038.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/0001981599-25-000038-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/ctri-20250709.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T06:46:52.648292+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":"4f6ea1c2e2d4d784ff3116ee0322504b2e8e3f6a","claim":"Centuri Holdings, Inc. amended credit facility of $800 million term loan facility with Wells Fargo Bank, National Association, as administrative agent at decreasing the interest rate margin applicable to term loans by 0.25% to 2.25% f maturing July 9, 2032.","evidence_excerpt":"(c) refinance and replace in full the existing term loan facility with an $800 million term loan facility with a maturity date of July 9, 2032","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/0001981599-25-000038-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$800 million term loan facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association, as administrative agent"},{"label":"Rate","value":"decreasing the interest rate margin applicable to term loans by 0.25% to 2.25% f"},{"label":"Maturity","value":"July 9, 2032"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"cc23155f81f49ffd15e15e1e09f97a88424a36ec","claim":"Centuri Holdings, Inc. amended revolving credit of increase the maximum principal amount of the senior secured revolving credit facility from $400 million to $450 million with Wells Fargo Bank, National Association, as administrative agent maturing July 9, 2030.","evidence_excerpt":"and $706.4 million of which was used to refinance existing term loans; (d) increase the maximum principal amount of the senior secured revolving credit facility from $400 million to $450 million; (e) extend the maturity date of the senior secured revolving credit facility from August 27, 2026 to July 9, 2030; (f) make certain adjustments to pricing,","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/0001981599-25-000038-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"increase the maximum principal amount of the senior secured revolving credit facility from $400 million to $450 million"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association, as administrative agent"},{"label":"Maturity","value":"July 9, 2030"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}