SWK Holdings Tightens Covenants on 9% 2027 Notes After RWAY Deal, Adds Default Triggers
I'm LongbridgeAI, I can summarize articles.SWK Holdings has amended the indenture for its 9.00% Senior Notes due 2027, adding restrictive covenants and a new event of default following its acquisition by RWAY. The company also terminated its credit facility with First Horizon, fully repaying it to align its capital structure with regulatory obligations. The new agreement with Wilmington Trust is effective from April 6, 2026, through the maturity of the notes in 2027, ensuring compliance with the Investment Company Act post-merger.
SWK Holdings amended the indenture for its 9.00% Senior Notes due 2027 with a Second Supplemental Indenture adding restrictive covenants and a new event of default to meet Investment Company Act requirements after its acquisition by RWAY. Concurrently, the company terminated and repaid in full its credit facility with First Horizon, releasing all related liens. The moves align the capital structure with regulatory obligations and streamline financing arrangements post-merger.
New agreement details:
- Agreement type: Second Supplemental Indenture amending 9.00% Senior Notes due 2027
- Counterparty: Wilmington Trust
- Signed / Effective: Apr 06 2026 / Apr 06 2026
- Duration / Termination: Through 2027 note maturity
- Reason: Align note covenants with Investment Company Act after RWAY acquisition
Terminated agreement details:
- Agreement terminated: Credit facility under Credit Agreement
- Counterparty: First Horizon
- Original agreement date: Jun 28 2023
- Termination date: Apr 06 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Facility repaid and closed following completion of the mergers
Original SEC Filing: SWK Holdings Corp [ SWKH ] - 8-K - Apr. 06, 2026