Tilly's amends credit agreement, raising debt-to-EBITDAR covenant to 4.75x for two quarters

TILLY'S, INC.

Required Total Funded Debt to EBITDAR ratio increased from 4.00:1.00 to 4.75:1.00 for quarters ending Jan 28 and Apr 29, 2023.
Ratio reverts to 4.00:1.00 for quarter ending Jul 23, 2023 and each fiscal quarter thereafter.
Amendment between subsidiary World of Jeans & Tops and Wells Fargo Bank, effective January 26, 2023.
Tilly's represented no Event of Default existed as of the amendment date.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TILLY'S, INC. amended First Amendment to Credit Agreement with Wells Fargo Bank, National Association (effective 2023-01-26).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Effective: 2023-01-26

Exact text from the filing

On January 26, 2023, World of Jeans & Tops, a California corporation and a wholly owned subsidiary of Tilly’s, Inc., a Delaware corporation (the “Company”), entered into the First Amendment to Credit Agreement (the “Amendment”), which amends the Credit Agreement (as amended, the “Agreement”), dated as of January 20, 2022, with Wells Fargo Bank, National Association.

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TILLY'S, INC. filing history →

Source: SEC EDGAR

accession 0001628280-23-001623

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