Monro extends $600M credit facility to 2027, switches to SOFR + 0.10%

MONRO, INC.

Amended $600M revolving credit facility extended from 2024 to 2027.
Interest rate changed from LIBOR to SOFR plus 0.10%.
Proceeds to refinance debt, fund acquisitions, and for general corporate purposes.
Citizens Bank acted as Lead Left Arranger, Bookrunner, and Administrative Agent.

Key facts

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

MONRO, INC. amended Amendment with a syndicate of banks led by Citizens Bank, N.A. as administrative agent (effective 2022-11-10).

Action: amendment
Agreement: credit facility
Counterparty: a syndicate of banks led by Citizens Bank, N.A. as administrative agent
Effective: 2022-11-10

Exact text from the filing

On November 10, 2022 (the “Closing Date”), Monro, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its Amended and Restated Credit Agreement with a syndicate of banks led by Citizens Bank, N.A. as administrative agent (the “Credit Agreement”), which had previously been amended in June 2020 and October 2021 (the “Previous Amendments” and, with the Credit Agreement, the “Amended Credit Agreement”).

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MONRO, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-285697

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