Brink's Co. Files 8-K: Material Agreement & Financial Obligation
Ticker: BCO · Form: 8-K · Filed: Jun 12, 2024 · CIK: 78890
| Field | Detail |
|---|---|
| Company | Brinks CO (BCO) |
| Form Type | 8-K |
| Filed Date | Jun 12, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1.00, $400 million, $1 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
Brink's Co. signed a big deal and took on debt, filing an 8-K on June 12, 2024.
AI Summary
On June 12, 2024, The Brink's Company entered into a Material Definitive Agreement and incurred a Direct Financial Obligation. The company also reported other events and filed financial statements and exhibits. Specific details regarding the agreement and financial obligation are not provided in this excerpt.
Why It Matters
This filing indicates significant new contractual commitments or financial arrangements for The Brink's Company, which could impact its financial health and operational strategy.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial risks or opportunities that require further investigation.
Key Players & Entities
- BRINKS CO (company) — Registrant
- THE BRINK’S COMPANY (company) — Registrant
- June 12, 2024 (date) — Date of Report
- Virginia (location) — State of Incorporation
- Richmond, VA (location) — Business Address
FAQ
What is the nature of the Material Definitive Agreement entered into by The Brink's Company on June 12, 2024?
The provided excerpt does not specify the details of the Material Definitive Agreement.
What is the specific Direct Financial Obligation incurred by The Brink's Company?
The excerpt mentions the creation of a Direct Financial Obligation but does not provide its specifics.
What are the "Other Events" reported by The Brink's Company in this 8-K filing?
The excerpt lists "Other Events" as an item information but does not detail what those events are.
What are the key details of the financial statements and exhibits filed with this 8-K?
The filing indicates that financial statements and exhibits are included, but their content is not described in the provided text.
What was the previous name of The Brink's Company, and when did the name change occur?
The Brink's Company was formerly known as PITTSTON CO, and the date of the name change was July 3, 1992.
Filing Stats: 1,497 words · 6 min read · ~5 pages · Grade level 13.5 · Accepted 2024-06-12 16:20:34
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 per share BCO New York Stock Exchange
- $400 million — a private offering (the "Offering") of $400 million aggregate principal amount of senior un
- $1 billion — ion of outstanding borrowings under its $1 billion revolving credit facility. Before apply
Filing Documents
- bco-20240612.htm (8-K) — 38KB
- exhibit41brinks-indentures.htm (EX-4.1) — 1161KB
- exhibit991pressrelease2024.htm (EX-99.1) — 13KB
- image_0a.jpg (GRAPHIC) — 24KB
- 0000078890-24-000225.txt ( ) — 1557KB
- bco-20240612.xsd (EX-101.SCH) — 2KB
- bco-20240612_lab.xml (EX-101.LAB) — 22KB
- bco-20240612_pre.xml (EX-101.PRE) — 13KB
- bco-20240612_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Offering of Senior Notes On June 12, 2024, The Brink's Company ("Brink's" or the "Company") closed a private offering (the "Offering") of $400 million aggregate principal amount of senior unsecured notes due 2029 (the "2029 Notes") and $400 million aggregate principal amount of senior unsecured notes due 2032 (the "2032 Notes" and, together with the 2029 Notes, the "Notes"). The Notes were issued pursuant to a senior notes indenture dated as of June 12, 2024 (the "Indenture") by and among the Company, certain subsidiaries of the Company (the "Subsidiary Guarantors") and Wilmington Trust, National Association, as trustee. The Company intends to use the net proceeds from the Offering to redeem or repurchase the $400 million aggregate principal amount of its outstanding 5.500% Senior Notes due 2025 (the "2025 Senior Notes") at or prior to maturity and to repay a portion of outstanding borrowings under its $1 billion revolving credit facility. Before applying a portion of the net proceeds to redeem or repurchase the 2025 Senior Notes as described above, the Company expects to use such portion of the net proceeds for general corporate purposes and to temporarily repay additional amounts outstanding under its revolving credit facility. The Indenture The Notes are governed by the Indenture, will mature on June 15, 2029 and June 15, 2032, respectively, bear an annual interest rate of 6.500% and 6.750%, respectively, and are payable semi-annually on June 15 and December 15 of each year, beginning on December 15, 2024. The Company may redeem some or all of the 2029 Notes on or after June 15, 2026 at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. The Company may also redeem some or all of the 2029 Notes at any time prior to June 15, 2026 at a price equal to 100% of the principal amount of the Notes redeemed plus a "make-whol
01 Other Events
Item 8.01 Other Events. On June 12, 2024, the Company issued a press release announcing the closing of the Offering to eligible purchasers of the Notes. A copy of the press release announcing the closing of the Offering is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Notes have not been and will not be registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 4.1 Indenture dated as of June 12, 2024 among The Brink's Company, the Subsidiary Guarantors named therein, and Wilmington Trust, National Association, as trustee, relating to the Notes due 2029 and 2032. 99.1 Press Release, dated June 12, 2024, issued by The Brink's Company. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE BRINK'S COMPANY (Registrant) Date: June 12, 2024 By: /s/ Kurt B. McMaken Kurt B. McMaken Executive Vice President and Chief Financial Officer