MILLERKNOLL, INC. (MLKN): debt financing — MillerKnoll refinances $1.75B credit facilities, extends maturities, adjusts leverage covenant

MILLERKNOLL, INC.

Entered Amendment No. 3 on April 17, 2025, refinancing existing $400M Term Loan A and $725M Revolving Credit Facility.
Senior facilities remain at $1.75B aggregate; $625M Term Loan B unchanged; revolver had $385M drawn at closing.
Pro rata facilities mature five years from closing (April 2030); amortization of Refinanced Term Loan A starts quarterly.
Maximum first lien secured net leverage ratio set at 4.00:1.00, with temporary increase option up to 0.50.
Interest margin initially 1.75% for SOFR loans under pro rata facilities; commitment fee 0.25% on unused revolver.

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

MILLERKNOLL, INC. amended credit facility of $1,750.0 million with Goldman Sachs Bank USA at Term SOFR or Daily Simple SOFR plus 1.75% for RFR Loans, 0.75% for ABR Loans maturing five-year anniversary of the Closing Date.

Instrument: credit facility
Principal: $1,750.0 million
Counterparty: Goldman Sachs Bank USA
Rate: Term SOFR or Daily Simple SOFR plus 1.75% for RFR Loans, 0.75% for ABR Loans
Maturity: five-year anniversary of the Closing Date
Event: amendment

Exact text from the filing

to time party thereto (the “ Lenders ”), the Administrative Agents, and Goldman Sachs, as collateral agent, which Existing Agreement provides for senior secured financing of $1,750.0 million, consisting of a term loan A facility (the “ Existing Term Loan A Facility ”) in an aggregate principal amount of $400.0 million, a term loan B facility (the “ Existing Term Loan

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Source: SEC EDGAR

accession 0000066382-25-000047

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