Sprouts Farmers Market, Inc. (SFM): debt financing — Sprouts Farmers Market enters $600M revolver, replaces $700M facility

Sprouts Farmers Market, Inc.

New $600M senior secured revolver, matures July 25, 2030; existing $700M facility terminated.
No loans outstanding at closing; proceeds for general corporate purposes.
Interest at SOFR+1.00% or base rate+0.00%; sustainability-linked adjustments up to 0.05%.
Covenants: max total net leverage 3.75x, min interest coverage 3.00x, tested quarterly.

item 1.01 item 1.02 item 2.03 item 7.01 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 0.98

Sprouts Farmers Market, Inc. incurred revolving credit of $600 million with JPMorgan Chase Bank, N.A., as administrative agent, an issuing bank and swingline lender at Term SOFR (with a floor of 0.00%) plus 1.00% per annum or alternate base rate (w maturing July 25, 2030.

Instrument: revolving credit
Principal: $600 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, an issuing bank and swingline lender
Rate: Term SOFR (with a floor of 0.00%) plus 1.00% per annum or alternate base rate (w
Maturity: July 25, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a senior secured revolving credit facility (the “Revolving Credit Facility”) with an initial aggregate commitment of $600 million, which may be increased from time to time pursuant to the terms set forth in the Credit Agreement.

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Sprouts Farmers Market, Inc. filing history →

Source: SEC EDGAR

accession 0001575515-25-000216

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