Chefs' Warehouse secures $675 million term loan due 2033
CHEF•Chefs' Warehouse secured and fully drew a $675 million senior secured term loan due October 15, 2033. It used proceeds for debt refinancing, convertible senior note settlements and redemption, among other corporate purposes.
1. Loan terms
The facility was secured on October 15, 2026, with Jefferies Finance as administrative agent. It bears interest at SOFR plus 2% or the Alternate Base Rate plus 1%.
2. Refinancing and credit changes
Repayment of approximately $244.7 million terminated the prior term loan agreement and released related liens. An amendment to the revolving credit facility increased its letter-of-credit sublimit to $75 million from $50 million and aligned negative covenants with the new facility.
