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.

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