--- schema_version: "secwatch.filing_event.v1" accession: "0000950170-22-026686" form_type: "8-K" ticker: "WOOF" cik: "0001826470" company_name: "Petco Health & Wellness Company, Inc." filed_at: "2022-12-16T23:59:59+00:00" generated_at: "2026-06-21T03:34:24.652482+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.25 calibrated_materiality_score: 0.25 confidence: "high" source: SEC EDGAR --- # Petco amends credit agreements to replace LIBOR with SOFR-based rates ## Summary - Both First Lien and ABL credit agreements amended to replace LIBOR with Adjusted Term SOFR plus credit spread adjustments (11.448 bps for 1M, 26.161 bps for 3M, 42.826 bps for 6M). - ABL amendment also corrects section references in definitions of 'Eligible Accounts' and 'Eligible Inventory'. - No changes to principal amounts, maturity dates, or other material terms; no new borrowings. - Amendments effective December 12, 2022, with no lender objections received within the specified notice period. ## SEC filing metadata - accession: 0000950170-22-026686 - form_type: 8-K - ticker: WOOF - cik: 0001826470 - company_name: Petco Health & Wellness Company, Inc. - filed_at: 2022-12-16T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.25 - calibrated_materiality_score: 0.25 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1826470/000095017022026686/0000950170-22-026686-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826470/000095017022026686/woof-20221212.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000950170-22-026686 - JSON: https://secwatch.observer/filing/0000950170-22-026686.json - Plain text: https://secwatch.observer/filing/0000950170-22-026686.txt ## Key facts - Debt Financings Petco Health & Wellness Company, Inc. amended credit facility with Citibank, N.A., as administrative agent at replace the LIBOR-based interest rate applicable to borrowings under the First L. - Instrument: credit facility - Counterparty: Citibank, N.A., as administrative agent - Rate: replace the LIBOR-based interest rate applicable to borrowings under the First L - Event: amendment source text: On December 12, 2022, Petco Health and Wellness Company, Inc. (the “Company”) entered into a first amendment to credit agreement (the “First Lien Amendment”) with Citibank, N.A., as administrative agent (in such capacity, the “First Lien Administrative Agent”), which amends the first lien credit agreement, dated March 4, 2021, by and among the Company, the First Lien Administrative Agent and the lenders named therein (as so amended, the “First Lien Credit Agreement”). Pursuant to the terms of the First Lien Amendment, the First Lien Administrative Agent agreed to replace the LIBOR-based interest rate applicable to borrowings under the First Lien Credit Agreement with a SOFR-based interest rate, subject to adjustment as specified in the First Lien Amendment. evidence_url: https://www.sec.gov/Archives/edgar/data/1826470/000095017022026686/0000950170-22-026686-index.htm - Debt Financings Petco Health & Wellness Company, Inc. amended revolving credit with Citibank, N.A., as administrative agent at replace the LIBOR-based interest rate applicable to borrowings under the ABL Cre. - Instrument: revolving credit - Counterparty: Citibank, N.A., as administrative agent - Rate: replace the LIBOR-based interest rate applicable to borrowings under the ABL Cre - Event: amendment source text: On December 12, 2022, the Company entered into a first amendment to ABL revolving credit agreement (the “ABL Amendment”) with Citibank, N.A., as administrative agent (in such capacity, the “ABL Administrative Agent”), which amends the ABL revolving credit agreement, dated March 4, 2021, by and among the Company, the ABL Administrative Agent and the lenders named therein (as so amended, the “ABL Credit Agreement”). Pursuant to the terms of the ABL Amendment, the ABL Administrative Agent agreed to replace the LIBOR-based interest rate applicable to borrowings under the ABL Credit Agreement with a SOFR-based interest rate, subject to adjustment as specified in the ABL Amendment. evidence_url: https://www.sec.gov/Archives/edgar/data/1826470/000095017022026686/0000950170-22-026686-index.htm - Material Agreements Petco Health & Wellness Company, Inc. amended ABL Credit Agreement with Citibank, N.A. valued at Replaced LIBOR-based interest rate with SOFR-based interest rate (effective 2022-12-12). - Action: amendment - Agreement: credit facility - Counterparty: Citibank, N.A. - Value: Replaced LIBOR-based interest rate with SOFR-based interest rate - Effective: 2022-12-12 source text: On December 12, 2022, the Company entered into a first amendment to ABL revolving credit agreement (the “ABL Amendment”) with Citibank, N.A., as administrative agent (in such capacity, the “ABL Administrative Agent”), which amends the ABL revolving credit agreement, dated March 4, 2021, by and among the Company, the ABL Administrative Agent and the lenders named therein (as so amended, the “ABL Credit Agreement”). Pursuant to the terms of the ABL Amendment, the ABL Administrative Agent agreed to replace the LIBOR-based interest rate applicable to borrowings under the ABL Credit Agreement with a SOFR-based interest rate, subject to adjustment as specified in the ABL Amendment. The foregoing description of the terms of the ABL Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the ABL Amendment, a copy of which is filed as Exhibit 10.2 and incorporated by reference into this Item 1.01. evidence_url: https://www.sec.gov/Archives/edgar/data/1826470/000095017022026686/0000950170-22-026686-index.htm - Material Agreements Petco Health & Wellness Company, Inc. amended First Lien Credit Agreement with Citibank, N.A. valued at Replaced LIBOR-based interest rate with SOFR-based interest rate (effective 2022-12-12). - Action: amendment - Agreement: credit facility - Counterparty: Citibank, N.A. - Value: Replaced LIBOR-based interest rate with SOFR-based interest rate - Effective: 2022-12-12 source text: On December 12, 2022, Petco Health and Wellness Company, Inc. (the “Company”) entered into a first amendment to credit agreement (the “First Lien Amendment”) with Citibank, N.A., as administrative agent (in such capacity, the “First Lien Administrative Agent”), which amends the first lien credit agreement, dated March 4, 2021, by and among the Company, the First Lien Administrative Agent and the lenders named therein (as so amended, the “First Lien Credit Agreement”). Pursuant to the terms of the First Lien Amendment, the First Lien Administrative Agent agreed to replace the LIBOR-based interest rate applicable to borrowings under the First Lien Credit Agreement with a SOFR-based interest rate, subject to adjustment as specified in the First Lien Amendment. The foregoing description of the terms of the First Lien Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the First Lien Amendment, a copy of which is filed as Exhibit 1 evidence_url: https://www.sec.gov/Archives/edgar/data/1826470/000095017022026686/0000950170-22-026686-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.