--- schema_version: "secwatch.filing_event.v1" accession: "0001020859-24-000018" form_type: "8-K" ticker: "UNFI" cik: "0001020859" company_name: "UNITED NATURAL FOODS INC" filed_at: "2024-05-01T23:59:59+00:00" generated_at: "2026-06-03T01:46:00.987100+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.55 calibrated_materiality_score: 0.55 confidence: "high" source: SEC EDGAR --- # UNFI reduces term loan to $500M, extends maturity to 2031, adds $130M FILO tranche ## Summary - Term loan principal reduced to $500M, maturity extended to May 1, 2031 with springing conditions tied to Whole Foods contract and 2028 senior notes. - Interest margin on term loan increased from SOFR+3.25% to SOFR+4.75%. - Added $130M FILO tranche under ABL facility at SOFR+2.50% per annum. - Canadian obligors no longer required to provide credit support for U.S. ABL loans. ## SEC filing metadata - accession: 0001020859-24-000018 - form_type: 8-K - ticker: UNFI - cik: 0001020859 - company_name: UNITED NATURAL FOODS INC - filed_at: 2024-05-01T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.55 - calibrated_materiality_score: 0.55 - confidence: high - sec_items: 1.01, 2.03 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1020859/000102085924000018/0001020859-24-000018-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1020859/000102085924000018/unfi-20240501.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001020859-24-000018 - JSON: https://secwatch.observer/filing/0001020859-24-000018.json - Plain text: https://secwatch.observer/filing/0001020859-24-000018.txt ## Key facts - Debt Financings UNITED NATURAL FOODS INC amended term loan of $500 million with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at 4.75% over SOFR maturing May 1, 2031. - Instrument: term loan - Principal: $500 million - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent - Rate: 4.75% over SOFR - Maturity: May 1, 2031 - Event: amendment source text: The Term Loan Amendment provides for (i) the reduction of the principal amount of the facility to $500 million, (ii) the extension of the maturity to May 1, 2031 evidence_url: https://www.sec.gov/Archives/edgar/data/1020859/000102085924000018/0001020859-24-000018-index.htm - Debt Financings UNITED NATURAL FOODS INC incurred term loan of $130 million with Wells Fargo Bank, National Association at SOFR plus 2.50% per annum. - Instrument: term loan - Principal: $130 million - Counterparty: Wells Fargo Bank, National Association - Rate: SOFR plus 2.50% per annum - Event: incurrence source text: The ABL Amendment provides for (i) the creation of a FILO tranche of $130 million with an Applicable Margin (as defined in the ABL Loan Agreement) rate equal to SOFR plus 2.50% per annum evidence_url: https://www.sec.gov/Archives/edgar/data/1020859/000102085924000018/0001020859-24-000018-index.htm - Material Agreements UNITED NATURAL FOODS INC amended Amendment No. 4 to the Term Loan Agreement with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent valued at $500 million (effective 2024-05-01). - Action: amendment - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent - Value: $500 million - Effective: 2024-05-01 source text: On May 1, 2024, United Natural Foods, Inc. (the “Company”), SUPERVALU INC., UNFI Wholesale, Inc., and UNFI Distribution Company, LLC (the “Co-Borrowers” and, together with the Company, the “Borrowers”), the guarantors party thereto, the certain financial institutions that are parties thereto as lenders, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (the “Agent”), entered into Amendment No. 4 to the Term Loan Agreement (the “Term Loan Amendment”), amending the Term Loan Agreement dated as of October 22, 2018, as amended from time to time (as further amended, the “Term Loan Agreement”), among the Borrowers, the guarantors party thereto, the lenders from time to time party thereto and the Agent. evidence_url: https://www.sec.gov/Archives/edgar/data/1020859/000102085924000018/0001020859-24-000018-index.htm - Material Agreements UNITED NATURAL FOODS INC amended Amendment No. 1 to the ABL Loan Agreement with Wells Fargo Bank, National Association valued at $130 million (effective 2024-05-01). - Action: amendment - Agreement: credit facility - Counterparty: Wells Fargo Bank, National Association - Value: $130 million - Effective: 2024-05-01 source text: On May 1, 2024, the Company entered into Amendment No. 1 (the “ABL Amendment”) to the loan agreement dated June 3, 2022, by and among the Company, UNFI Canada, Inc., the financial institutions that are parties thereto as lenders, Wells Fargo Bank, National Association and the other parties thereto (the “ABL Loan Agreement”) to execute on a First In, Last Out (“FILO”) tranche of incremental loans under the ABL Loan Agreement. evidence_url: https://www.sec.gov/Archives/edgar/data/1020859/000102085924000018/0001020859-24-000018-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.