secwatch.observer — SEC 8-K summary
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Issuer:     TrueBlue, Inc. (TBI)
CIK:        0000768899
Form:       8-K
Filed at:   2026-02-03T23:59:59+00:00
Accession:  0000768899-26-000004
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/768899/000076889926000004/0000768899-26-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/768899/000076889926000004/tbi-20260130.htm
  HTML page:      https://secwatch.observer/filing/0000768899-26-000004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer