Farmer Bros. Co. amends credit agreement, consents to prior and future real property sales, reduces sale basket to $2.5M

FARMER BROTHERS CO

Consented to prior sales of 7 real properties across AZ, CA, TX, UT, and WA.
Consented to future sales of 8 specified real properties within 18 months, subject to conditions.
Reduced general basket for real property sales from $15M to $2.5M under the credit agreement.
Released security interests on properties in Thousand Palms, CA and Oklahoma City, OK.

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

FARMER BROTHERS CO amended Consent and Amendment No. 5 to Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto (effective 2023-12-04).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto
Effective: 2023-12-04

Exact text from the filing

On December 4, 2023 (the “Effective Date”), Farmer Bros. Co., a Delaware corporation (the “Company”), and certain of its subsidiaries entered into that certain Consent and Amendment No. 5 to Credit Agreement (the “Consent and Amendment”), with the lenders party thereto (the “Lenders”), and Wells Fargo Bank, National Association, as administrative agent for each member of the lender group (in such capacity, the “Agent”).

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FARMER BROTHERS CO filing history →

Source: SEC EDGAR

accession 0001140361-23-056678

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