US Foods amends term loan to replace LIBOR with Term SOFR plus credit spread adjustment

US Foods Holding Corp.

Tenth Amendment dated June 1, 2023 replaces LIBOR-based interest rate with Term SOFR.
Credit spread adjustments: 0.11448% (1-month), 0.26161% (3-month), 0.42826% (6-month) per annum.
No other material terms of the Credit Agreement were changed.
Amendment entered between US Foods, Inc. and Citicorp North America, Inc. as administrative agent.
Existing Eurocurrency Loans continue under LIBOR until end of their current Interest Period, then convert to Term SOFR.

Key facts

Extracted from this filing and checked against the source text.

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

US Foods Holding Corp. amended Tenth Amendment with Citicorp North America, Inc. valued at The Tenth Amendment replaced the LIBOR-based interest rate option with Term SOFR and added credit sp (effective 2023-06-01).

Action: amendment
Agreement: credit facility
Counterparty: Citicorp North America, Inc.
Value: The Tenth Amendment replaced the LIBOR-based interest rate option with Term SOFR and added credit sp
Effective: 2023-06-01

Exact text from the filing

On June 1, 2023, US Foods Inc. (the “ Company ”) entered into the Tenth Amendment (the “ Tenth Amendment ”) to the Amended and Restated Term Loan Credit Agreement, dated as of June 27, 2016 (as amended, the “ Credit Agreement ”), by and among the Company, the other loan parties party thereto, Citicorp North America, Inc., as administrative agent and collateral agent, and the lenders from time to time party thereto.

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Source: SEC EDGAR

accession 0001387131-23-007170

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