Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 20

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 20
---
 following:(in millions)As of June 29, 2025As of December 29, 2024Operating right of use liability$144.9 $133.0 Tax Receivable Agreement liability20.9 24.3 Supplemental retirement and salary continuation plans7.2 6.9 Long-term portion of an interest rate hedge liability1.0 — Total accrued expenses and other$174.0 $164.2 

8.TERM DEBT, REVOLVING CREDIT FACILITY AND OTHER NOTES PAYABLE

Term Debt and Revolving Credit FacilityThe Company has a credit agreement with a syndicate of banks, led by Bank of America, N.A. ("Term Loan B").  On January 29, 2025, the Company amended its Term Loan B to refinance in full all of the $630.3 million outstanding term loans thereunder, reduce the interest rate from the Secured Overnight Financing Rate (“SOFR”) plus the applicable rate of 2.75% to SOFR plus the applicable rate of 2.50% and extend the maturity date from January 20, 2028 to January 29, 2032, as well as to make certain other changes. Other material terms of the Term Loan B remain unchanged. The Company recorded a loss on debt extinguishment of $0.5 million related to the refinancing of its Term Loan B in its Consolidated Statements of Operations and Comprehensive Income (Loss) for the twenty-six weeks ended June 29, 2025.Term debt and revolving credit facilities consisted of the following:Debt (in millions)Original Principal BalanceMaturity DateAs ofJune 29, 2025As of December 29, 2024Term Loan B$795.0 January-32$630.3 $630.3 Real Estate Term Loan (1)$88.1 October-3258.4 59.6 Equipment loans (2)$157.4 122.0 83.5 Asset based lending (“ABL”) facilityOctober-2760.7 0.2 Net impact of debt issuance costs and original issue discount(5.5)(5.0)Total long-term debt865.9 768.6 Less: current portion(23.2)(16.1)Long term portion of term debt and financing obligations$842.7 $752.5 

10

(1) Loan by City