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SNI > SEC Filings for SNI > Form 8-K on 3-Apr-2014All Recent SEC Filings

Show all filings for SCRIPPS NETWORKS INTERACTIVE, INC.

Form 8-K for SCRIPPS NETWORKS INTERACTIVE, INC.


3-Apr-2014

Entry into a Material Definitive Agreement, Creation of a Dire


Item 1.01. Entry into a Material Definitive Agreement

On March 31, 2014 we entered into a 5-Year Competitive Advance and Revolving Credit Facility Agreement (the "Facility") that permits $650 million in aggregate borrowings and expires on March 31, 2019.

The Facility replaces our existing Competitive Advance and Revolving Credit Facility that collectively permitted aggregate borrowings up to $550 million and was due to expire on June 30, 2014.

Borrowings under the Facility bears interest based on the Company's credit rating, with drawn amounts bearing interest at Libor plus a range of 69 to 130 basis points and undrawn amounts bearing interest at a range of 6 to 20 basis points. The Facility includes certain affirmative and negative covenants, including maintenance of a maximum leverage ratio.

A copy of the Facility is filed as Exhibit 10.40.



Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of a Registrant

The information under Item 1.01 above is incorporated by reference hereunder.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

10.40 Five-Year Competitive Advance and Revolving Credit Facility Agreement


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