secwatch.observer — SEC 8-K summary
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Issuer:     Utz Brands, Inc. (UTZ)
CIK:        0001739566
Form:       8-K
Filed at:   2022-10-12T23:59:59+00:00
Accession:  0001739566-22-000218
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1739566/000173956622000218/0001739566-22-000218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1739566/000173956622000218/utz-20221012.htm
  HTML page:      https://secwatch.observer/filing/0001739566-22-000218

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