Utz Brands secures $88.14M real estate term loan at ~6% fixed, boosts liquidity to $188M

Utz Brands, Inc.

Term loan of $88.14M secured by 17 previously unencumbered properties (plants, warehouses, offices).
Net proceeds ~$85M used to pay down revolver; pro forma liquidity increases to ~$188M from ~$103M.
10-year maturity, ~$3.5M annual amortization with bullet repayment; interest rate swap fixes effective rate at ~6%.
Single financial covenant (fixed charge coverage ratio) tested quarterly only during covenant trigger period.

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