secwatch.observer — SEC 8-K summary
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Issuer:     Centuri Holdings, Inc. (CTRI)
CIK:        0001981599
Form:       8-K
Filed at:   2025-07-14T23:59:59+00:00
Accession:  0001981599-25-000038
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Centuri Holdings refinances debt with $800M term loan, extends revolver to 2030, lowers rate
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/0001981599-25-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/ctri-20250709.htm
  HTML page:      https://secwatch.observer/filing/0001981599-25-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer