---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-015167"
form_type: "8-K"
ticker: "PZZA"
cik: "0000901491"
company_name: "PAPA JOHNS INTERNATIONAL INC"
filed_at: "2025-03-27T23:59:59+00:00"
generated_at: "2026-05-24T04:31:33.515554+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Papa John's closes $200M term loan, extends $600M revolver to 2030 in credit agreement amendment

## Summary
- New $200M senior secured term loan drawn at closing; proceeds used to repay existing revolver borrowings.
- $600M revolving credit facility extended to March 26, 2030; approximately $158.9M drawn as of March 26, 2025.
- Transaction is leverage neutral; financial covenants include max leverage 5.25x and $150M liquidity requirement prior to 2029 note maturity.
- Interest rates: SOFR + 1.25%-2.00% or base rate plus 0.25%-1.00%; accordion feature allows up to $500M additional commitments.

## SEC filing metadata
- accession: 0001628280-25-015167
- form_type: 8-K
- ticker: PZZA
- cik: 0000901491
- company_name: PAPA JOHNS INTERNATIONAL INC
- filed_at: 2025-03-27T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/901491/000162828025015167/0001628280-25-015167-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/901491/000162828025015167/pzza-20250326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-015167
- JSON: https://secwatch.observer/filing/0001628280-25-015167.json
- Plain text: https://secwatch.observer/filing/0001628280-25-015167.txt

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