---
schema_version: "secwatch.filing_event.v1"
accession: "0001589526-22-000080"
form_type: "8-K"
ticker: "BLBD"
cik: "0001589526"
company_name: "Blue Bird Corp"
filed_at: "2022-11-28T23:59:59+00:00"
generated_at: "2026-06-21T12:45:42.793398+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Blue Bird extends credit facility to Dec 2024; revises covenants and pricing grid

## Summary
- Maturity extended from Sept 2023 to Dec 31, 2024; revolving commitment amended to $90M (initially $80M available).
- New pricing grid with SOFR+ margins up to 5.75%; margins increase if revolving draws exceed $50M or $80M.
- New minimum consolidated EBITDA covenants: $50M annualized run-rate in Q2-Q3 FY2023, $60M in Q2-Q4 FY2023.
- Permanent waiver of $20M trailing 12-month minimum EBITDA covenant for Q4 FY2022 and 2,306 minimum units covenant.
- CFO to provide fiscal 2023 guidance on Dec 12 earnings call; CEO cites lending partners' continued support.

## SEC filing metadata
- accession: 0001589526-22-000080
- form_type: 8-K
- ticker: BLBD
- cik: 0001589526
- company_name: Blue Bird Corp
- filed_at: 2022-11-28T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589526/000158952622000080/0001589526-22-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589526/000158952622000080/blbd-20221121.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001589526-22-000080
- JSON: https://secwatch.observer/filing/0001589526-22-000080.json
- Plain text: https://secwatch.observer/filing/0001589526-22-000080.txt

## Key facts
- Debt Financings
  Blue Bird Corp amended credit facility of $90.0 million with Bank of Montreal, as Administrative Agent, and certain other financial institutions at SOFR plus 5.75% maturing December 31, 2024.
  - Instrument: credit facility
  - Principal: $90.0 million
  - Counterparty: Bank of Montreal, as Administrative Agent, and certain other financial institutions
  - Rate: SOFR plus 5.75%
  - Maturity: December 31, 2024
  - Event: amendment
  source text: under the Amended Credit Agreement from September 13, 2023 to December 31, 2024. The total revolving facility commitment under the Amended Credit Agreement is amended to $90.0 million. Of this total, only $80.0 million is available for the Borrower to draw, with the remaining $10.0 million subject to written approval from Required Lenders (as defined in the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1589526/000158952622000080/0001589526-22-000080-index.htm

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