MillerKnoll refinances $625M Term Loan B with $550M facility; extends maturity 7 years

MILLERKNOLL, INC.

Refinanced Term Loan B facility of $550M closed Aug 7, 2025, reducing total Senior Facilities from $1.75B to $1.675B.
New term loan bears interest at SOFR + 2.25% (RFR loans) or base rate + 1.25%, with margin adjusting based on leverage ratio.
Matures on seven-year anniversary of closing; quarterly amortization at 0.25% of initial principal starting Dec 31, 2025.
Prepayment allowed without premium generally; 1.00% premium on repricing events within first six months.
Proceeds used to repay existing Term Loan B and fees; Wells Fargo replaces Goldman Sachs as administrative agent and collateral agent.

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