AI English summary of an SEC filing — figures as filed
L3Harris LHXThe company said it established a new $1.5 billion 364-day senior unsecured revolving credit facility on January 26, 2024, entering into a 364-Day Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent.
Key points
AI summaryThe company said it established a new $1.5 billion 364-day senior unsecured revolving credit facility on January 26, 2024, entering into a 364-Day Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent.
The company said the new facility replaces the prior $2.4 billion 364-day facility, effective March 10, 2023. It said the prior commitments were terminated at the same time the new agreement took effect, all amounts outstanding under the prior facility were repaid on or before termination, and no early termination penalties were incurred.
The company said borrowings bear interest, at its election, at either the term secured overnight financing rate plus 0.10% and an applicable margin of 1.000% to 1.750% (initially 1.125%) based on its credit ratings, or the base rate plus an applicable margin of 0.000% to 0.750% (initially 0.125%). The initial unused commitment fee rate is 0.110%, and it varies between 0.090% and 0.250%.
The company said it may borrow, prepay and re-borrow until the earlier of January 24, 2025 and the date the commitments terminate. Maturity is the commitment termination date. Extension requires a fee of 0.75% of the aggregate principal amount of the loans being extended and satisfaction of certain conditions.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
$1.5 billion 364-day New Revolving Credit Facility Established
The company said it established a new $1.5 billion 364-day senior unsecured revolving credit facility on January 26, 2024, entering into a 364-Day Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent.
Source · Based on the filing body and exhibits
Prior $2.4 billion 364-day Credit Facility Replaced and Terminated
The company said the new facility replaces the prior $2.4 billion 364-day facility, effective March 10, 2023. It said the prior commitments were terminated at the same time the new agreement took effect, all amounts outstanding under the prior facility were repaid on or before termination, and no early termination penalties were incurred.
Source · Based on the filing body and exhibits
Borrowing Rates and Unused Commitment Fee Structure
The company said borrowings bear interest, at its election, at either the term secured overnight financing rate plus 0.10% and an applicable margin of 1.000% to 1.750% (initially 1.125%) based on its credit ratings, or the base rate plus an applicable margin of 0.000% to 0.750% (initially 0.125%). The initial unused commitment fee rate is 0.110%, and it varies between 0.090% and 0.250%.
Source · Based on the filing body and exhibits
Borrowing Period, Maturity and Extension Terms
The company said it may borrow, prepay and re-borrow until the earlier of January 24, 2025 and the date the commitments terminate. Maturity is the commitment termination date. Extension requires a fee of 0.75% of the aggregate principal amount of the loans being extended and satisfaction of certain conditions.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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