Chefs' Warehouse extends ABL credit facility maturity to 2027, increases commitments to $200M

Chefs' Warehouse, Inc.

Third Amendment extends maturity from June 2023 to March 2027 with springing conditions tied to convertible notes and term loan.
Commitments increased from $150M to $200M; swingline sublimit raised from $20M to $25M.
Interest rate benchmark switched from LIBOR to Term SOFR; margins set at 1.25%-1.50% for SOFR loans and 0.50%-0.75% for base rate loans.
New $20M basket for investments added to negative covenants.
Borrowers are Chefs' Warehouse Parent, LLC and Dairyland USA Corporation; BMO Harris Bank N.A. remains administrative agent.

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