Chewy, Inc. (CHWY): debt financing — Chewy amends ABL credit facility: maturity to 2030, removes 10bps SOFR spread

Chewy, Inc.

Maturity date extended to April 1, 2030 under Amendment No. 3.
10 bps credit spread adjustment on SOFR borrowings eliminated.
Increased flexibility in negative/affirmative covenants and event-of-default thresholds.
Total revolving commitments remain at $800 million; Wells Fargo lead with $225M.
Capacity for incremental revolving commitments increased.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chewy, Inc. amended credit facility with Wells Fargo Bank, National Association, as administrative agent, and JPMorgan Chase Bank, N.A., as syndication agent at removal of the 10 basis points credit spread adjustment applicable to SOFR borro maturing April 1, 2030.

Instrument: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent, and JPMorgan Chase Bank, N.A., as syndication agent
Rate: removal of the 10 basis points credit spread adjustment applicable to SOFR borro
Maturity: April 1, 2030
Event: amendment

Exact text from the filing

the Amendment provides for, among other things, (i) an extension of the maturity date applicable to the Credit Agreement to April 1, 2030, (ii) removal of the 10 basis points credit spread adjustment applicable to SOFR borrowings under the Credit Agreement

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Chewy, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-071385

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