LA-Z-BOY INC (LZB): debt financing — La-Z-Boy amends credit facility: maturity extended to 2030, covenants eased

LA-Z-BOY INC

Extended credit facility maturity from October 2026 to July 2030.
Increased accordion basket for incremental loans from $100M to $125M.
Removed SOFR credit spread adjustment, reducing borrowing costs.
Lowered consolidated fixed charge coverage ratio covenant from 1.75:1 to 1.50:1.
Revolving credit facility remains $200M with $50M letter of credit sub-limit.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LA-Z-BOY INC amended credit facility of $200 million with Wells Fargo Bank, National Association maturing July 1, 2030.

Instrument: credit facility
Principal: $200 million
Counterparty: Wells Fargo Bank, National Association
Maturity: July 1, 2030
Event: amendment

Exact text from the filing

and the other parties thereto (the “Credit Agreement”). The Credit Agreement provides for a revolving credit facility (the “Credit Facility”) in an aggregate principal amount of $200 million, which includes a $50 million letter of credit sub-limit. The foregoing description of the Credit Agreement Amendment does not purport to be complete and is qualified in its

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Source: SEC EDGAR

accession 0000057131-25-000054

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