United Natural Foods, Inc. (UNFI) has announced the pricing of a $500.0 million senior secured term loan facility. The 7-year Term Loan will have an interest rate of SOFR + 4.75% and an issue price of 98. UNFI plans to use the proceeds to refinance existing debt, expecting to close the transaction in early May.
United Natural Foods, Inc. (UNFI) ha annunciato il prezzo di un impianto di prestito a termine garantito senior da 500 milioni di dollari. Il prestito a termine di 7 anni avrà un tasso di interesse di SOFR + 4,75% e un prezzo di emissione di 98. UNFI prevede di utilizzare i proventi per rifinanziare il debito esistente, prevedendo di chiudere la transazione all'inizio di maggio.
United Natural Foods, Inc. (UNFI) ha anunciado la fijación de precios de una facilidad de préstamo a plazo garantizado senior de 500.0 millones de dólares. El préstamo a plazo de 7 años tendrá una tasa de interés de SOFR + 4.75% y un precio de emisión de 98. UNFI planea utilizar los fondos para refinanciar deuda existente, esperando cerrar la transacción a principios de mayo.
United Natural Foods, Inc. (UNFI)에서 5억 달러 상당의 선순위 담보 대출 시설의 금리를 발표했습니다. 7년 만기 대출은 SOFR + 4.75%의 이자율과 98의 발행 가격을 가질 예정입니다. UNFI는 이 자금을 기존 부채를 재융자하는 데 사용할 계획이며, 거래는 5월 초에 마감될 것으로 예상됩니다.
United Natural Foods, Inc. (UNFI) a annoncé la tarification d'une facilité de prêt à terme senior sécurisée de 500,0 millions de dollars. Le prêt à terme de 7 ans aura un taux d'intérêt de SOFR + 4,75% et un prix d'émission de 98. UNFI prévoit d'utiliser les fonds pour refinancer la dette existante, en prévoyant de clôturer la transaction début mai.
United Natural Foods, Inc. (UNFI) hat die Preisgestaltung für eine gesicherte, vorrangige Kreditfazilität von 500,0 Millionen Dollar bekannt gegeben. Der 7-jährige Terminkredit wird einen Zinssatz von SOFR + 4,75% und einen Ausgabepreis von 98 haben. UNFI plant, die Erlöse zur Refinanzierung bestehender Schulden zu verwenden und erwartet, die Transaktion Anfang Mai abzuschließen.
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PROVIDENCE, R.I.--(BUSINESS WIRE)--
United Natural Foods, Inc. (NYSE: UNFI) today announced the pricing of the previously announced refinancing of its senior secured term loan facility. The amended term loan facility (the “Term Loan”) will be a 7-year loan with a principal amount of $500.0 million. UNFI expects to use the proceeds of the Term Loan, together with borrowings under its asset-based revolving credit facility, to repay the existing term loan.
The Term Loan was initially launched with an indicated interest rate of SOFR + 5.00% to 5.25% and a price range of 97 to 98. Final pricing reflects an interest rate of SOFR + 4.75% and an issue price of 98.
The refinancing of the Term Loan is expected to close in early May, subject to the satisfaction of customary conditions.
About UNFI
UNFI is North America's premier grocery wholesaler delivering the widest variety of fresh, branded, and owned brand products to more than 30,000 locations throughout North America, including natural product superstores, independent retailers, conventional supermarket chains, ecommerce providers, and food service customers. UNFI also provides a broad range of value-added services and segmented marketing expertise, including proprietary technology, data, market insights, and shelf management to help customers and suppliers build their businesses and brands. As the largest full-service grocery partner in North America, UNFI is committed to building a food system that is better for all and is uniquely positioned to deliver great food, more choices, and fresh thinking to customers. To learn more about how UNFI is delivering value for its stakeholders, visit www.unfi.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the Company’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties and are based on current expectations and management estimates; actual results may differ materially. Examples of these statements include statements regarding the proposed closing and the proposed terms of the amendment. The risks and uncertainties which could impact these statements include the market for secured debt and those described in the Company’s filings under the Securities Exchange Act of 1934, as amended, including its annual report on Form 10-K for the year ended July 29, 2023 filed with the Securities and Exchange Commission (the “SEC”) on September 26, 2023 and other filings the Company makes with the SEC. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Any estimates of future results of operations are based on a number of assumptions, many of which are outside the Company’s control and should not be construed in any manner as a guarantee that such results will in fact occur.
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