---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-039622"
form_type: "8-K"
ticker: "SAM"
cik: "0000949870"
company_name: "BOSTON BEER CO INC"
filed_at: "2022-12-22T23:59:59+00:00"
generated_at: "2026-06-21T00:36:12.379538+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Boston Beer enters into $150M credit facility maturing Dec 2027, replacing prior undrawn facility

## Summary
- New unsecured $150M revolving credit facility with Bank of America as administrative agent; matures December 16, 2027.
- Interest at Term SOFR + 1.10% or Base Rate + 0.10%; no principal payments until maturity.
- Prior $150M facility terminated with $0 outstanding; no early termination penalties incurred.
- Financial covenants: interest coverage >= 2.00x, leverage <= 2.50x EBITDA.
- Only American Craft Brewery LLC is a guarantor at closing; other material subsidiaries may join.

## SEC filing metadata
- accession: 0001564590-22-039622
- form_type: 8-K
- ticker: SAM
- cik: 0000949870
- company_name: BOSTON BEER CO INC
- filed_at: 2022-12-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/949870/000156459022039622/0001564590-22-039622-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949870/000156459022039622/sam-8k_20221216.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-039622
- JSON: https://secwatch.observer/filing/0001564590-22-039622.json
- Plain text: https://secwatch.observer/filing/0001564590-22-039622.txt

## Key facts
- Debt Financings
  BOSTON BEER CO INC incurred credit facility of up to $150,000,000 with Bank of America, N.A. (as administrative agent) and various lenders at Term SOFR plus 1.10% per annum maturing December 16, 2027.
  - Instrument: credit facility
  - Principal: up to $150,000,000
  - Counterparty: Bank of America, N.A. (as administrative agent) and various lenders
  - Rate: Term SOFR plus 1.10% per annum
  - Maturity: December 16, 2027
  - Event: incurrence
  source text: other things, the Lenders severally and not jointly established for the benefit of the Borrowers a revolving credit facility in the original aggregate principal amount of up to $150,000,000, together with a sublimit for a letters of credit for up to $5,000,000 (collectively, the “New Credit Facility”). The 2022 Credit Agreement amended, restated, and replaced in its
  evidence_url: https://www.sec.gov/Archives/edgar/data/949870/000156459022039622/0001564590-22-039622-index.htm
- Material Agreements
  BOSTON BEER CO INC amended Third Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and various banks and other financial institutions valued at up to $150,000,000 (effective 2022-12-16).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and various banks and other financial institutions
  - Value: up to $150,000,000
  - Effective: 2022-12-16
  source text: On December 16, 2022, the (“Closing Date”), The Boston Beer Company, Inc., a Massachusetts corporation (the “Parent”) and its subsidiaries, Boston Beer Corporation, a Massachusetts corporation (together with the Parent, the “Borrowers”) and American Craft Brewery LLC, a Massachusetts limited liability company (“American Craft Brewery”) entered into a Third Amended and Restated Credit Agreement (the “2022 Credit Agreement”) by and among the Borrowers, American Craft Brewery as a guarantor thereunder, Bank of America, N.A. (when acting for itself, “Bank of America”), as administrative agent thereunder (when acting in such capacity, the “Administrative Agent”), and various banks and other financial institutions (including Bank of America) which are parties thereto as lenders (collectively, the “Lenders”), pursuant to which, among other things, the Lenders severally and not jointly established for the benefit of the Borrowers a revolving credit facility in the original aggregate principal
  evidence_url: https://www.sec.gov/Archives/edgar/data/949870/000156459022039622/0001564590-22-039622-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.