TrueBlue, Inc. (TBI): debt financing — TrueBlue enters $255M amended credit facility, matures in five years, accordion to $405M

TrueBlue, Inc.

Total revolving credit facility of $255M, up from prior facility; accordion feature permits increase to $405M.
Maturity date is February 9, 2029; secured by collateral of borrower and material domestic subsidiaries.
Financial covenants: asset coverage ratio initially, then consolidated leverage ratio after Dec 28, 2025, plus fixed charge coverage.
Borrowing rates based on SOFR or base rate plus spread ranging from 1.75% to 3.50% depending on leverage; commitment fee 0.35%-0.50%.
Lenders include Bank of America, PNC, Wells Fargo, KeyBank, HSBC; BofA Securities is sole bookrunner.

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

TrueBlue, Inc. incurred revolving credit of $255 million with Bank of America, N.A. at variable rate of interest on the outstanding principal balance maturing five years.

Instrument: revolving credit
Principal: $255 million
Counterparty: Bank of America, N.A.
Rate: variable rate of interest on the outstanding principal balance
Maturity: five years
Event: incurrence

Exact text from the filing

The Agreement provides a senior secured revolving line of credit facility of up to $255 million, matures in five years

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TrueBlue, Inc. amended Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent valued at $255 million (effective 2024-02-09).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A. as administrative agent
Value: $255 million
Effective: 2024-02-09

Exact text from the filing

On February 9, 2024 , TrueBlue, Inc. (the “company”) entered into an Amended and Restated Credit Agreement (the “Agreement”). The Agreement amends and restates in its entirety the original Credit Agreement entered into on July 13, 2018

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TrueBlue, Inc. filing history →

Source: SEC EDGAR

accession 0000768899-24-000037

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