Ollie's Bargain Outlet amends credit agreement to replace LIBOR with SOFR

Ollie's Bargain Outlet Holdings, Inc.

First Amendment to Credit Agreement dated Jan 24, 2023; replaces LIBOR-based rates with SOFR-based rates.
Modifies provisions for determining alternative rate of interest upon benchmark unavailability.
No changes to commitment amounts ($100M revolver, $45M letters of credit, $25M swingline) or financial covenants.
Borrowers reaffirm representations; no Event of Default occurred.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ollie's Bargain Outlet Holdings, Inc. amended First Amendment with Manufacturers and Traders Trust Company as administrative agent (effective 2023-01-24).

Action: amendment
Agreement: credit facility
Counterparty: Manufacturers and Traders Trust Company as administrative agent
Effective: 2023-01-24

Exact text from the filing

On January 24, 2023, the subsidiaries of Ollie’s Bargain Outlet Holdings, Inc., a Delaware corporation , party to that certain amended and restated credit agreement (the “ Credit Agreement ”), dated as of May 22, 2019, with Manufacturers and Traders Trust Company as administrative agent (the “ Agent ”), the other agents party thereto and the lenders party thereto, entered into the First Amendment (the “ Amendment ”) with the Agent to amend the Credit Agreement

View on SEC.gov

Browse all material agreements →

Ollie's Bargain Outlet Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-002892

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.