Best Buy 8-K: Agreements and Obligations Reported

Ticker: BBY · Form: 8-K · Filed: 2025-04-23T00:00:00.000Z

Sentiment: neutral

Topics: agreement, obligation, filing

Related Tickers: BBY

TL;DR

BBY filed an 8-K on 4/23 reporting material agreements entered and terminated, plus new financial obligations as of 4/18.

AI Summary

Best Buy Co., Inc. filed an 8-K on April 23, 2025, reporting events as of April 18, 2025. The filing indicates the entry into and termination of material definitive agreements, as well as the creation of direct financial obligations. Specific details regarding these agreements and obligations are not elaborated upon in the provided text.

Why It Matters

This filing signals significant changes in Best Buy's contractual and financial commitments, which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — The filing mentions the entry into and termination of material definitive agreements and the creation of financial obligations, which inherently carry risk and require further investigation.

Key Players & Entities

FAQ

What specific material definitive agreements did Best Buy enter into?

The provided text does not specify the details of the material definitive agreements entered into by Best Buy.

What material definitive agreements were terminated by Best Buy?

The filing indicates the termination of material definitive agreements, but the specific agreements are not detailed in the provided text.

What are the new direct financial obligations created by Best Buy?

The filing states the creation of direct financial obligations, but the nature and amount of these obligations are not specified in the provided text.

What is the significance of the 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant' item?

This item signifies that Best Buy has entered into new financial commitments that will appear on its balance sheet or are contingent obligations not directly on the balance sheet.

When was Best Buy Co., Inc. incorporated?

Best Buy Co., Inc. was incorporated in Minnesota.

From the Filing

0000764478-25-000011.txt : 20250423 0000764478-25-000011.hdr.sgml : 20250423 20250422180102 ACCESSION NUMBER: 0000764478-25-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20250418 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250423 DATE AS OF CHANGE: 20250422 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEST BUY CO INC CENTRAL INDEX KEY: 0000764478 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731] ORGANIZATION NAME: 07 Trade & Services EIN: 410907483 STATE OF INCORPORATION: MN FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09595 FILM NUMBER: 25858763 BUSINESS ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 BUSINESS PHONE: 6122911000 MAIL ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 FORMER COMPANY: FORMER CONFORMED NAME: BEST BUYS CO INC DATE OF NAME CHANGE: 19900809 8-K 1 bby-20250418x8k.htm 8-K bby-20250418x8k false 0000764478 0000764478 2025-04-18 2025-04-18 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.  20549 FORM  8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 18, 2025 BEST BUY CO., INC. (Exact name of registrant as specified in its charter) Minnesota 1-9595 41-0907483 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 7601 Penn Avenue South Richfield , Minnesota 55423 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code ( 612 ) 291-1000 N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol Name of exchange on which registered Common Stock, $0.10 par value per share BBY New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  If an emerging growth company, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ‎ Item 1.01 Entry into a Material Definitive Agreement. On April 18, 2025, Best Buy Co., Inc. (“Best Buy” or the “registrant”) entered into a new $1.25 billion five-year senior unsecured revolving credit facility agreement (the “Five-Year Facility Agreement”) with U.S. Bank National Association (“U.S. Bank”), as administrative agent, Bank of America, N.A., as syndication agent, and a syndicate of banks (collectively, the “Lenders”). The Five-Year Facility Agreement replaces the previous $1.25 billion senior u

View on Read The Filing