Chefs’ Warehouse (NASDAQ: CHEF) Amends Senior Secured Term Loan Credit Agreement

On October 22, 2024, The Chefs’ Warehouse, Inc. announced that it has entered into Amendment No. 12 to its senior secured term loan credit agreement. The Twelfth Amendment, as it is referred to, involves the repricing of the Company’s senior secured term loan B facility. This agreement, initially dated June 22, 2016, has been amended to adjust interest rates.

Under the terms of the Twelfth Amendment, the interest rate for the senior secured term loan B facility has been revised from 400 basis points over term SOFR or 300 basis points over the alternate base rate to 350 basis points over term SOFR or 250 basis points over the alternate base rate. The floor of the Adjusted Term SOFR at 0.50% and the scheduled maturity date of August 23, 2029, remain unchanged following this repricing. The total aggregate principal amount of term loans outstanding after the Twelfth Amendment comes into effect is now $262,000,000.00.

It is noted that The Chefs’ Warehouse, Inc. maintains its customary corporate and commercial banking relationships with the lenders, administrative agent, collateral agent, and their affiliates. The Company assures that the lenders and associated parties have played essential roles in this amendment procedure.

This announcement concerning the Twelfth Amendment provides a concise overview of the amendment details and the financial implications of Chefs’ Warehouse’s actions. For a thorough understanding of the agreement, interested parties are encouraged to refer to the full text of the Twelfth Amendment, which is available as Exhibit 10.1 in a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission.

The Company filed this information under Item 1.01, Entry into a Material Definitive Agreement, and Item 9.01, Financial Statements and Exhibits, in its recent SEC filing report on Form 8-K. Additional details regarding this amendment can be found in the filed document.

This press release is published to inform shareholders, stakeholders, and the general public about The Chefs’ Warehouse, Inc.’s recent financial developments and agreements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Chefs’ Warehouse’s 8K filing here.

About Chefs’ Warehouse

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.