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8-K filed October 6, 2025, 7:59 PM ET ticker BH-A CIK 0001726173

debt confidence high sentiment neutral materiality 0.70

Biglari Holdings Inc. (BH-A): debt financing — Biglari Holdings subsidiary Steak n Shake takes $225M loan at 8.80%, terminates $75M line

Biglari Holdings Inc.

Steak n Shake borrowed $225M on Sept 30, 2025; 5-year term, fixed rate 8.80%.
Loan amortizes at 3% per annum; proceeds distributed to Biglari Holdings.
Biglari Holdings terminated a $75M line of credit on the same date.

item 1.01 item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Biglari Holdings Inc. incurred loan of $225,000,000 at 8.80% per annum maturing five years.

Instrument: loan
Principal: $225,000,000
Rate: 8.80% per annum
Maturity: five years
Event: incurrence

Exact text from the filing

On September 30, 2025, Steak n Shake Inc., a subsidiary of Biglari Holdings, obtained a loan of $225,000,000.

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304 debt financings filed in the last 30 days. Browse all debt financings →

Biglari Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001628280-25-044299

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