Middleby enters into $4.5B credit facility, replacing $3.1B prior facility

MIDDLEBY Corp

New credit agreement totals $4.5B: $1B term loan, $750M delayed draw term, $2.75B revolver.
Facility matures in 2026, includes $625M+ accordion feature based on EBITDA.
Financial covenants: min Interest Coverage 3.00x, max Secured Leverage 3.75x (4.25x for qualified acquisitions).
Proceeds used to refinance prior $3.1B facility and for general corporate purposes, including acquisitions.
Obligations secured by substantially all assets of Middleby Marshall and certain subsidiaries, guaranteed by Middleby Corp.

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