MILLERKNOLL, INC. (MLKN): debt financing — MillerKnoll enters $90M accounts receivable securitization facility due 2028

MILLERKNOLL, INC.

Three-year facility up to $90M, used for general working capital.
Interest rate: Daily One Month Term SOFR + 1.075%.
Matures September 8, 2028; secured by receivables sold to bankruptcy-remote SPE.
Wells Fargo is administrative agent and lender; company guarantees performance obligations.
Originators sell/contribute receivables to SPE; company does not guarantee collectibility.

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. incurred credit facility of $90.0 million with Wells Fargo Bank, National Association at Daily One Month Term SOFR plus an applicable margin of 1.075% maturing September 8, 2028.

Instrument: credit facility
Principal: $90.0 million
Counterparty: Wells Fargo Bank, National Association
Rate: Daily One Month Term SOFR plus an applicable margin of 1.075%
Maturity: September 8, 2028
Event: incurrence

Exact text from the filing

(the “ Company ”), and certain other subsidiaries of the Company, entered into a three-year accounts receivable securitization facility in the aggregate amount of up to $90.0 million (the “ Facility ”). The proceeds from the Facility will be used for general working capital purposes. The documentation for the Facility includes, among other documents, (i) a

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MILLERKNOLL, INC. filing history →

Source: SEC EDGAR

accession 0000066382-25-000097

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