UNFI Announces Repricing of Senior Secured Term Loan

Rhea-AI Summary

United Natural Foods, Inc. (NYSE: UNFI) has successfully repriced its senior secured term loan facility. The amendment lowers the Applicable Rate from 4.25% to 3.50% for LIBOR-based loans, while maintaining a LIBOR floor of 0.00%. Other key terms, including operating covenants and maturity date, remain unchanged. UNFI is recognized as North America's largest publicly traded grocery distributor, supplying a diverse range of products to various retail and food service customers across the continent.

Positive

• Reduction of Applicable Rate from 4.25% to 3.50%, improving financial terms.

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• None.

United Natural Foods, Inc. (NYSE: UNFI) (“UNFI”) today announced that it has successfully completed the repricing of its senior secured term loan facility. The amendment to the term loan agreement, among other things, reduced the Applicable Rate (as defined in the term loan agreement) from 4.25% to 3.50% for LIBOR-based loans, while the LIBOR floor remains at 0.00%. All other material terms of the term loan, including operating covenants and maturity date, were unchanged by the amendment.

About United Natural Foods

UNFI is North America's premier food wholesaler delivering the widest variety of products to customer locations throughout North America including natural product superstores, independent retailers, conventional supermarket chains, ecommerce retailers, and food service customers. By providing this deeper ‘full-store’ selection and compelling brands for every aisle, UNFI is uniquely positioned to deliver great food, more choices, and fresh thinking to customers everywhere. Today, UNFI is the largest publicly-traded grocery distributor in America. To learn more about how UNFI is Moving Food Forward, visit www.unfi.com.

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FAQ

What recent financial changes occurred for UNFI?

United Natural Foods has lowered its senior secured term loan facility's Applicable Rate from 4.25% to 3.50%.

How does the new term loan amendment affect UNFI's financial position?

The amendment improves UNFI's borrowing costs, potentially enhancing its cash flow.

What is the LIBOR floor for UNFI's term loan after the repricing?

The LIBOR floor remains unchanged at 0.00%.

What company represents UNFI in the grocery distribution sector?

UNFI is the largest publicly traded grocery distributor in North America, serving various retail and food service customers.