secwatch / observer
8-K filed March 23, 2023, 7:59 PM ET ticker DNUT CIK 0001857154
debt confidence high sentiment neutral materiality 0.60

Krispy Kreme, Inc. (DNUT): debt financing — Krispy Kreme enters $1.0B new credit facility, extending debt maturity to 2028

Krispy Kreme, Inc.

item 1.01item 1.02item 2.03item 9.01

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

Krispy Kreme, Inc. incurred revolving credit of $300 million with BNP Paribas at adjusted term SOFR plus 1.75%-2.25% based on Total Net Leverage Ratio maturing March 2028.

Instrument
revolving credit
Principal
$300 million
Counterparty
BNP Paribas
Rate
adjusted term SOFR plus 1.75%-2.25% based on Total Net Leverage Ratio
Maturity
March 2028
Event
incurrence
Exact text from the filing
(“ Borrower ”) entered into a new credit agreement (“ New Credit Agreement ”) with the lenders party thereto (“ Lenders ”) and BNP Paribas, as administrative agent and as collateral agent, consisting of a $300 million senior secured first lien revolving credit facility and a $700 million senior secured first lien term loan facility.
View on SEC.gov
Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Krispy Kreme, Inc. incurred term loan of $700 million with BNP Paribas at adjusted term SOFR plus 1.75%-2.25% based on Total Net Leverage Ratio maturing March 2028.

Instrument
term loan
Principal
$700 million
Counterparty
BNP Paribas
Rate
adjusted term SOFR plus 1.75%-2.25% based on Total Net Leverage Ratio
Maturity
March 2028
Event
incurrence
Exact text from the filing
(“ Borrower ”) entered into a new credit agreement (“ New Credit Agreement ”) with the lenders party thereto (“ Lenders ”) and BNP Paribas, as administrative agent and as collateral agent, consisting of a $300 million senior secured first lien revolving credit facility and a $700 million senior secured first lien term loan facility.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Krispy Kreme, Inc. terminated Existing Credit Agreement with the lenders party thereto and Citibank, N.A. (effective 2023-03-23).

Action
termination
Agreement
credit facility
Counterparty
the lenders party thereto and Citibank, N.A.
Effective
2023-03-23
Exact text from the filing
The initial proceeds of the New Credit Agreement were used, in part, to refinance the loans and commitments under Borrower’s existing credit agreement, dated June 13, 2019 (as amended, restated, amended and restated, supplemented or modified from time to time, the “ Existing Credit Agreement ”), by and among Parent Company, Holdings, Borrower, the lenders party thereto and Citibank, N.A. as administrative agent and collateral agent (filed as Exhibit 10.1 to the Parent Company’s Registration Statement on Form S-1/A, File number 333-256664, filed on June 22, 2021, and incorporated by reference herein), and thereupon terminate the Existing Credit Agreement and all related loan documents.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Krispy Kreme, Inc. entered into New Credit Agreement with the lenders party thereto and BNP Paribas valued at a $300 million senior secured first lien revolving credit facility and a $700 million senior secured (effective 2023-03-23).

Action
entry
Agreement
credit facility
Counterparty
the lenders party thereto and BNP Paribas
Value
a $300 million senior secured first lien revolving credit facility and a $700 million senior secured
Effective
2023-03-23
Exact text from the filing
On March 23, 2023, Krispy Kreme, Inc. (“ Parent Company ”) and its wholly-owned subsidiaries Cotton Parent, Inc. (“ Holdings ”) and Krispy Kreme Doughnuts, Inc. (“ Borrower ”) entered into a new credit agreement (“ New Credit Agreement ”) with the lenders party thereto (“ Lenders ”) and BNP Paribas, as administrative agent and as collateral agent, consisting of a $300 million senior secured first lien revolving credit facility and a $700 million senior secured first lien term loan facility.
View on SEC.gov

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

Krispy Kreme, Inc. filing history →

Source: SEC EDGAR
accession 0001857154-23-000023
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