Leggett & Platt Enters Material Definitive Agreement
Ticker: LEG · Form: 8-K · Filed: Mar 25, 2024
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Leggett & Platt just signed a big deal, potentially creating new financial obligations.
AI Summary
Leggett & Platt, Incorporated announced on March 22, 2024, that it entered into a material definitive agreement. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The company is a manufacturer of household furniture.
Why It Matters
This filing signals a significant new contract or financial commitment for Leggett & Platt, which could impact its future financial obligations and operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to performance, financing, and market conditions.
Key Players & Entities
- LEGGETT & PLATT, INCORPORATED (company) — Registrant
- March 22, 2024 (date) — Date of earliest event reported
- Missouri (jurisdiction) — State of incorporation
- 417 - 358-8131 (phone_number) — Registrant's telephone number
FAQ
What type of material definitive agreement did Leggett & Platt enter into?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on or before March 22, 2024.
What is the nature of the financial obligation created?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specifics are not detailed.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on March 22, 2024.
In which state is Leggett & Platt, Incorporated incorporated?
Leggett & Platt, Incorporated is incorporated in Missouri.
What is the principal executive office address for Leggett & Platt, Incorporated?
The principal executive offices are located at No. 1 Leggett Road, Carthage, MO 64836.
Filing Stats: 1,568 words · 6 min read · ~5 pages · Grade level 10.7 · Accepted 2024-03-25 16:27:03
Key Financial Figures
- $750 million — esser of: (A) Unrestricted Cash, or (B) $750 million to (ii) Consolidated EBITDA for the fou
- $1.2 billion — e, to borrow, repay and re-borrow up to $1.2 billion (subject to covenant limitations) until
- $600 m — increase in borrowing capacity of up to $600 million, upon request of the Company subj
Filing Documents
- d794117d8k.htm (8-K) — 48KB
- d794117dex101.htm (EX-10.1) — 632KB
- d794117dex991.htm (EX-99.1) — 6KB
- g794117g0322085606864.jpg (GRAPHIC) — 4KB
- g794117g0322085607014.jpg (GRAPHIC) — 2KB
- 0001193125-24-076534.txt ( ) — 975KB
- leg-20240322.xsd (EX-101.SCH) — 3KB
- leg-20240322_lab.xml (EX-101.LAB) — 17KB
- leg-20240322_pre.xml (EX-101.PRE) — 11KB
- d794117d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . EXHIBIT INDEX Exhibit No. Description 10.1* Amendment Agreement, dated as of March 22, 2024 relating to the Fourth Amended and Restated Credit Agreement among the Company, JPMorgan Chase Bank, N.A., as administrative agent, and the Lenders party thereto. 10.2 Amendment Agreement, dated as of December 16, 2022 relating to the Fourth Amended and Restated Credit Agreement among the Company, JPMorgan Chase Bank, N.A., as administrative agent, and the Lenders named therein, filed December 20, 2022 as Exhibit 10.1 to the Company's Form 8-K, is incorporated by reference. 10.3 Amendment Agreement adopting the Fourth Amended and Restated Credit Agreement, dated as of September 30, 2021 among the Company, JPMorgan Chase Bank, N.A., as administrative agent, and the Lenders named therein, filed October 1, 2021 as Exhibit 10.1 to the Company's Form 8-K, is incorporated by reference. 99.1** Press Release dated March 25, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document) * Denotes filed herewith. ** Denotes furnished herewith. 4
SIGNATURES
SIGNATURES 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. LEGGETT & PLATT, INCORPORATED Date: March 25, 2024 By: /s/ J ENNIFER J. D AVIS Jennifer J. Davis Executive Vice President – General Counsel 5