US FOODS HOLDING CORP. (NYSE:USFD) Files An 8-K Entry into a Material Definitive Agreement

US FOODS HOLDING CORP. (NYSE:USFD) Files An 8-K Entry into a Material Definitive Agreement
Item 2.03.Entry into a Material Definitive Agreement.

Senior Secured Term Loan Facility

On November 30, 2017, US Foods, Inc. (“US Foods”), the several lenders party thereto, Citicorp North America, Inc., as administrative agent and collateral agent, and Citibank, N.A., as new term loan lender, entered into an amendment (the “Fourth Amendment”) to US Foods’ existing term loan credit agreement (the “Existing Credit Agreement”, as amended by the Fourth Amendment, the “Credit Agreement”), to, among other things, amend certain pricing terms of its outstanding term loans in an aggregate principal amount of $2.173 billion. The Fourth Amendment lowers the applicable margins to 2.50% for LIBOR borrowings and 1.50% for ABR borrowings, which can be further reduced to 2.25% for LIBOR borrowings and 1.25% for ABR borrowings if the consolidated secured leverage ratio is equal to or less than 1.75:1.00 at the end of the most recent fiscal quarter, as determined by reference to a pricing grid. The LIBOR “floor” for term loan borrowings bearing interest based on LIBOR is reduced to 0.00%.

A copy of the Fourth Amendment is attached as Exhibit 4.1.The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such document.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 2.03 concerning US Foods’ direct financial obligations under the Credit Agreement is hereby incorporated herein by reference.

Item 2.03.Financial Statements and Exhibits.

US Foods Holding Corp. Exhibit
EX-4.1 2 usfd-ex41_6.htm EX-4.1 usfd-ex41_6.htm Exhibit 4.1   EXECUTION VERSION FOURTH AMENDMENT FOURTH AMENDMENT,…
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US Foods Holding Corp. is a holding company. The Company is a foodservice distributor in the United States. It conducts all of its operations through its subsidiary, US Foods, Inc. It markets and distributes fresh, frozen and dry food and non-food products to foodservice customers throughout the United States. It offers products, such as Chef’s Line Pat LaFrieda Angus Beef Burger, which is a beef patty developed by New York butcher Pat LaFrieda, and features Angus short rib and chuck prepared with LaFrieda’s chopped technology; Chef’s Line All Natural Ready-to-Cook Turkey Roast, which is a natural turkey breast developed with Butterball and DuPont Film, and Monarch Mirepoix Blend, which is a blend of onions, carrots and celery. As of October 1, 2016, it provided over 400,000 fresh, frozen, and dry food stock-keeping units, as well as non-food items, sourced from over 5,000 suppliers. The Company offers its customers with a suite of e-commerce, technology and business solutions.

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