Chewy enters $600M term loan facility and extends ABL revolver maturity to 2031

Chewy, Inc.

$600M seven-year senior secured term loan at SOFR+1.75% or base+0.75%, amortizing 1% annually.
ABL Credit Facility maturity extended via Amendment No. 4 to June 23, 2031.
Proceeds from term loan plus cash on hand for fees, general corporate purposes, and working capital.
Term loan secured by substantially all assets of Chewy and guaranteed by domestic subsidiaries.
Debt is senior secured with first- or second-priority liens; negative/affirmative covenants and events of default customary.

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