UniFirst Corporation Secures $300 Million Revolving Credit Facility in Amended Agreement with Major Banks
UniFirst Corporation has entered into a Third Amended and Restated Credit Agreement with Bank of America, N.A., Santander Bank, N.A., and Wells Fargo Bank, N.A., among other lenders. Effective August 12, 2025, the agreement amends and restates a previous credit facility, now providing UniFirst with a $300 million unsecured revolving credit facility, with up to $150 million available for letters of credit. The agreement, which is scheduled to mature on August 12, 2030, allows for potential expansion of commitments up to $400 million, contingent on compliance with financial covenants. The interest rate for borrowings is based on the Secured Overnight Financing Rate $(SOFR)$ plus a spread determined by UniFirst's consolidated funded debt ratio. The agreement includes various financial and restrictive covenants, with provisions for default under specific conditions.
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