Petco launches $1.5B debt refinancing, reaffirms FY2025 outlook

Petco Health & Wellness Company, Inc.

Intends to refinance $1.5 billion of its current term loan to extend maturities; subject to market conditions.
Completed $50M voluntary prepayment in Dec 2025; up to $100M additional authorized by board.
Reaffirms FY2025 Net Sales down 2.5%-2.8%; Adjusted EBITDA $395M-$397M.
Reaffirms Q4 2025 Adj. EBITDA $93M-$95M; Net Sales down low single digits YoY.
CEO cites fiscal 2025 execution and category resilience; no assurances refinancing will be completed.

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