Petco announces $650M senior secured notes offering due 2031 to refinance term loan

Petco Health & Wellness Company, Inc.

$650M aggregate principal of senior secured notes due 2031; guaranteed by Petco's subsidiary guarantors.
Notes secured first-lien on fixed assets and second-lien on current assets.
Proceeds, plus new term loan borrowings and cash, to repay existing term loan facility in full.
Offering conducted under Rule 144A/Reg S; notes not registered under Securities Act.
Completion subject to pricing and customary closing conditions.

item 7.01item 9.01

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