Zumiez terminates $25M Wells Fargo credit facility; no borrowings outstanding

Zumiez Inc

Effective May 3, 2024, terminated senior secured credit facility with Wells Fargo (originally Dec 2018).
Facility provided up to $25M for working capital; no borrowings or open commercial LCs outstanding.
$3.4M in undrawn standby LCs being transitioned to restricted deposits with the Bank.
No early termination penalties incurred; company cites sufficient liquidity from operations and cash.
Termination eliminates 0.50% per annum unused commitment fee on the facility.

item 1.01

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

Zumiez Inc terminated Credit Agreement with Wells Fargo Bank, N.A. (effective 2024-05-03).

Action: termination
Agreement: credit facility
Counterparty: Wells Fargo Bank, N.A.
Effective: 2024-05-03

Exact text from the filing

Terminated a Credit Agreement between the Company and Wells Fargo Bank, N.A. (the “ Bank ”) originally entered into on December 7, 2018

View on SEC.gov

292 material agreements filed in the last 30 days. Browse all material agreements →

Zumiez Inc filing history →

Source: SEC EDGAR

accession 0001193125-24-135248

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.