Casey's General Stores Files 8-K on Financial Obligation

TL;DR

Casey's just signed a new financial deal, could affect their debt.

AI Summary

On October 4, 2024, Casey's General Stores, Inc. entered into a material definitive agreement related to a financial obligation. The company, incorporated in Iowa with its principal executive offices in Ankeny, IA, filed this 8-K report on October 9, 2024, detailing the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.

Why It Matters

This filing indicates Casey's General Stores has entered into a new financial commitment, which could impact its debt structure and future financial flexibility.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce new risks related to debt servicing and financial covenants.

Key Numbers

• 001-34700 — SEC File Number (Identifies the company's filing history with the SEC.)
• 42-0935283 — IRS Employer Identification Number (Company's tax identification number.)

Key Players & Entities

• CASEY'S GENERAL STORES, INC. (company) — Registrant
• Iowa (jurisdiction) — State of incorporation
• Ankeny, Iowa (location) — Principal executive offices
• October 4, 2024 (date) — Earliest event reported
• October 9, 2024 (date) — Date of report filing

FAQ

Key Financial Figures

• $250,000,000 — therein with respect to the issuance of $250,000,000 aggregate principal amount of senior no
• $150,000,000 — unt of senior notes, consisting of: (i) $150,000,000 aggregate principal amount of 5.23% Sen
• $100,000,000 — , 2031 (the "Series I Notes"); and (ii) $100,000,000 aggregate principal amount of 5.43% Sen
• $2,000,000 — f the Notes, in an amount not less than $2,000,000. Any such prepayment shall be at a pric

Filing Documents

• eh240541790_8k.htm (8-K) — 27KB
• eh240541790_ex0401.htm (EX-4.1) — 494KB
• eh240541790_ex0402.htm (EX-4.2) — 83KB
• eh240541790_ex0403.htm (EX-4.3) — 94KB
• eh240541790_ex0404.htm (EX-4.4) — 105KB
• eh240541790_ex0405.htm (EX-4.5) — 124KB
• 0000950142-24-002538.txt ( ) — 1266KB
• casy-20241004.xsd (EX-101.SCH) — 3KB
• casy-20241004_lab.xml (EX-101.LAB) — 33KB
• casy-20241004_pre.xml (EX-101.PRE) — 22KB
• eh240541790_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement . Note Purchase Agreement and Amendments On October 4, 2024, Casey's General Stores, Inc. (the "Company") entered into a note purchase agreement (the "NPA") with the purchasers named therein with respect to the issuance of $250,000,000 aggregate principal amount of senior notes, consisting of: (i) $150,000,000 aggregate principal amount of 5.23% Senior Notes, Series I, due November 2, 2031 (the "Series I Notes"); and (ii) $100,000,000 aggregate principal amount of 5.43% Senior Notes, Series J, due November 2, 2034 (the "Series J Notes") (collectively, the "Notes"). The Series I Notes will be issued on October 30, 2024 (subject to customary closing conditions), will bear interest at the rate of 5.23% per annum from the date thereof, payable semi-annually on May 2 and November 2 of each year, and will mature on November 2, 2031. The Series J Notes will be issued on October 30, 2024 (subject to customary closing conditions), will bear interest at the rate of 5.43% per annum from the date thereof, payable semi-annually on May 2 and November 2 of each year, and will mature on November 2, 2034. The Company intends to use the proceeds of the Notes for general corporate purposes, including to fund the previously announced acquisition of 100% of the equity of Fikes Wholesale, Inc. and Group Petroleum Services, Inc., each, a Texas corporation. The NPA allows the Company to prepay all or a portion of the Notes, in an amount not less than $2,000,000. Any such prepayment shall be at a price equal to 100% of the principal amount so prepaid plus the Make-Whole Amount (as defined in the NPA) determined for the date of prepayment with respect to such principal amount. Any optional prepayment of less than all of the Notes outstanding shall be allocated pro rata among all of the Notes then outstanding. In the event of a Change of Control (as defined in the NPA), each holder of the Notes will have the right to require the Compa

03. Creation of a Direct Financial Obligation or an Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant . The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits . (d) Exhibits. Exhibit No. Description 4.1* Note Purchase Agreement dated October 4, 2024 4.2 Second Amendment to 2013 Note Purchase Agreement 4.3 Second Amendment to 2016 Note Purchase Agreement 4.4 Second Amendment to 2017 Note Purchase Agreement 4.5 First Amendment to 2020 Note Purchase Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) *Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K because such schedules and exhibits do not contain information that is material to an investment decision or that is not otherwise disclosed in the filed agreements. The Company will furnish the omitted schedules and exhibits to the SEC on a confidential basis upon request. 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. CASEY'S GENERAL STORES, INC. Dated: October 9, 2024 By: /s/ Stephen P. Bramlage, Jr. Stephen P. Bramlage, Jr. Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR