SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): July 11, 2023 (
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Item 1.01 Entry into a Material Definitive Agreement.
On July 7, 2023, The Chefs’ Warehouse, Inc. (the “Company”) entered into a sixth amendment (the “Sixth Amendment”) to its senior secured asset-based revolving credit agreement, originally dated as of June 29, 2018 (as amended, restated, supplemented or otherwise modified prior to the date of the Sixth Amendment, the “Existing Credit Agreement”), by and among the Company, Chefs’ Warehouse Parent, LLC, as borrower (“CW Parent”), Dairyland USA Corporation, as borrower (“Dairyland”, and together with CW Parent, the “Borrowers”), certain other subsidiaries of the Company, as guarantors, the lenders party thereto and BMO Harris Bank N.A., as administrative agent (the “Administrative Agent”), which, among other things, (i) increases the amount of commitments from $200,000,000 to $300,000,000, (ii) increases the sublimit for swingline loans from $25,000,000 to $37,500,000, (iii) increases the sublimit of the letter of credit facility from $30,000,000 to $35,000,000, (iv) increases the margin applicable to outstanding loans which now varies between 1.50% and 1.75% for loans accruing interest by reference to Term SOFR and 0.75% and 1.00% for loans accruing interest by reference to base rate, depending on the average daily amount of availability during the applicable fiscal quarter, and (vi) amends certain other provisions as specified therein.
The Company has customary corporate and commercial banking relationships with the lenders, the administrative agent and their affiliates.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|THE CHEFS’ WAREHOUSE, INC.|
|By:||/s/ Alexandros Aldous|
|Title:||General Counsel, Corporate Secretary and Chief Government Relations Officer|
Date: July 11, 2023