Petco Health & Wellness Company, Inc. (WOOF): debt financing — Petco refi with $900M term loan and $600M 8.25% senior secured notes due 2031

Petco Health & Wellness Company, Inc.

$900M refinancing term loans at Term Benchmark + 4.25% (0% floor), maturing Feb 2031 with 1% annual amortization.
$600M 8.250% senior secured notes due 2031 issued; proceeds to repay existing term loan facility.
Notes carry covenants limiting additional debt, dividends, investments, asset sales, liens, and affiliate transactions.
Notes redeemable at make-whole premium before Feb 1, 2028; thereafter at specified redemption prices.
Combined proceeds from term loans, notes, and cash on hand used to fully repay existing term loan facility.

item 1.01 item 2.03 item 9.01

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

Petco Health & Wellness Company, Inc. incurred senior notes.

Instrument: senior notes
Event: incurrence

Exact text from the filing

On February 2, 2026, the Company issued the Notes pursuant to an indenture, dated as of February 2, 2026 (the “Indenture”), among the Company, the guarantors party thereto, and U.S. Bank Trust Company, National Association, as trustee and collateral agent.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Petco Health & Wellness Company, Inc. amended Second Amendment to Credit Agreement with Citibank, N.A., as Administrative Agent and the 2026 Term Loan Lenders valued at $900 million (effective 2026-02-02).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A., as Administrative Agent and the 2026 Term Loan Lenders
Value: $900 million
Effective: 2026-02-02

Exact text from the filing

entered into the Second Amendment to Credit Agreement (the “Amendment”), amending the First Lien Credit Agreement, dated as of March 4, 2021, by and among the Company, the lenders from time to time party thereto and the Administrative Agent (the “Credit Agreement”). Among other changes, the Amendment provides that the Refinancing Lenders will provide term loans (the “Refinancing Term Loans”) to the Company in an aggregate principal amount of $900 million

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Petco Health & Wellness Company, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-033607

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