---
schema_version: "secwatch.filing_event.v1"
accession: "0000768899-26-000004"
form_type: "8-K"
ticker: "TBI"
cik: "0000768899"
company_name: "TrueBlue, Inc."
filed_at: "2026-02-03T23:59:59+00:00"
generated_at: "2026-05-16T05:29:40.379484+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# TrueBlue amends credit agreement to asset-based lending, cuts revolver to $175M

## Summary
- Line of credit reduced from $255M to $175M; $150M accordion retained subject to lender approval.
- Borrowing base: 90% investment grade accounts, 85% non-investment grade, 80% eligible unbilled.
- Minimum excess availability covenant; springing fixed charge coverage ratio from Sept 2026.
- Interest rate: SOFR/base rate plus spread based on leverage; LC fronting fee 0.25%.

## SEC filing metadata
- accession: 0000768899-26-000004
- form_type: 8-K
- ticker: TBI
- cik: 0000768899
- company_name: TrueBlue, Inc.
- filed_at: 2026-02-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/768899/000076889926000004/0000768899-26-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/768899/000076889926000004/tbi-20260130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000768899-26-000004
- JSON: https://secwatch.observer/filing/0000768899-26-000004.json
- Plain text: https://secwatch.observer/filing/0000768899-26-000004.txt

## Key facts
- Debt Financings
  TrueBlue, Inc. amended revolving credit of $175 million with Bank of America, N.A. as administrative agent at a variable rate of interest based on SOFR or the base rate (the highest of (x) t.
  - Instrument: revolving credit
  - Principal: $175 million
  - Counterparty: Bank of America, N.A. as administrative agent
  - Rate: a variable rate of interest based on SOFR or the base rate (the highest of (x) t
  - Event: amendment
  source text: The Amendment reduces the Company’s line of credit from $255 million to $175 million (as may be reduced by the borrowing base from time to time), while retaining the Company’s option to increase the amount by $150 million, subject to lender approval, with no changes in swingline sub-limits, letters of credit sub-limits, interest rate pricing or maturity date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/768899/000076889926000004/0000768899-26-000004-index.htm
- Material Agreements
  TrueBlue, Inc. amended Second Amendment to Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent, a lender, L/C issuer and swingline lender, and Wells Fargo Bank, N.A., PNC Bank, N.A., KeyBank, N.A., and HSBC Bank USA, N.A. as co-lenders valued at Converts the Agreement from a cash-flow based revolving credit facility to an asset-based lending fa (effective 2026-01-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A. as administrative agent, a lender, L/C issuer and swingline lender, and Wells Fargo Bank, N.A., PNC Bank, N.A., KeyBank, N.A., and HSBC Bank USA, N.A. as co-lenders
  - Value: Converts the Agreement from a cash-flow based revolving credit facility to an asset-based lending fa
  - Effective: 2026-01-30
  source text: On January 30, 2026, TrueBlue, Inc. (the “Company”) entered into a Second Amendment to Amended and Restated Credit Agreement (the “Second Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/768899/000076889926000004/0000768899-26-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.