SpartanNash Company (NASDAQ:SPTN) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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SpartanNash Company (NASDAQ:SPTN) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On December 20, 2016, SpartanNash Company and certain of its
subsidiaries entered into an amendment (the Amendment) to the
Companys Amended and Restated Loan and Security Agreement (the
Credit Agreement) with Wells Fargo Capital Finance, LLC, as
administrative agent, and certain lenders from time to time party
to the Credit Agreement.

The Amendment:

extends the maturity date of the term loan from January
8, 2020 to December 20, 2021;

provides the ability to increase the size of term loan to
$60 million from approximately $27 million;

amends the interest rate grid set forth in the definition
of Applicable Margin, such that rates are now from LIBOR
plus 1.25% to LIBOR plus 1.75%; and

resets the Advance Rate on Eligible Real Property to 75%
of appraised fair market value.

The foregoing description of the Amendment does not purport to be
complete. The Amendment is attached to this Report as Exhibit
10.1 and is incorporated into this Item 1.01 in its entirety.

Item 9.01. Financial Statements, Pro Forma Financial Information,
and Exhibits.

(d) Exhibits:

10.1

Amendment No. 2 to Amended and Restated Loan and Security
Agreement, dated December 20, 2016, among SpartanNash
Company and certain of its subsidiaries, as borrowers,
and Wells Fargo Capital Finance, LLC, as administrative
agent, and certain lenders from time to time party
thereto.


About SpartanNash Company (NASDAQ:SPTN)

Spartannash Company, formerly Spartan Stores, Inc., is a multi-regional grocery distributor and grocery retailer, and a distributor of grocery products to military commissaries in the United States. The Company’s core businesses include distributing food to military commissaries and exchanges, and independent and corporate-owned retail stores located in over 40 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain, Egypt, Honduras, Afghanistan and Bosnia. It operates through three segments: Military, which sells and distributes grocery products to military commissaries and exchanges in the United States and overseas; Food Distribution, which uses a multi-platform sales approach to distribute groceries to independent retail locations and corporate-owned retail stores, and Retail, which operates retail supermarkets. The products it distributes are delivered to over 170 military commissaries and over 440 exchanges located in over 40 states across the United States.

SpartanNash Company (NASDAQ:SPTN) Recent Trading Information

SpartanNash Company (NASDAQ:SPTN) closed its last trading session up +0.51 at 39.39 with 96,798 shares trading hands.