CENTRAL GARDEN & PET CO (CENT): debt financing — Central Garden & Pet enters $600M credit facility, maturing 2030

CENTRAL GARDEN & PET CO

New $600M senior secured asset-based revolving credit facility; accordion allows up to $1B.
Matures November 7, 2030; no borrowings drawn at closing.
Interest: SOFR + 1.00%-1.50% margin (1.00% at closing) or Base Rate + 0.00%-0.50%.
Proceeds for general corporate purposes; $50M L/C sublimit, $75M short-notice borrowing sublimit.
Replaces prior $600M facility dated December 2021.

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

CENTRAL GARDEN & PET CO incurred revolving credit of $600 million principal amount with Truist Bank at SOFR plus an applicable margin of 1.00%-1.50% maturing November 7, 2030.

Instrument: revolving credit
Principal: $600 million principal amount
Counterparty: Truist Bank
Rate: SOFR plus an applicable margin of 1.00%-1.50%
Maturity: November 7, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement amends and restates that certain Third Amended and Restated Credit Agreement dated as of December 16, 2021 (as amended to date, the “Predecessor Credit Agreement”) and provides for a $600 million principal amount senior secured asset based revolving credit facility

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Source: SEC EDGAR

accession 0001193125-25-277476

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