Company: CHEF
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001517175-25-000002
Chunk: 116

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 116
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$160,383 

Note 9 – Debt Obligations

 Debt obligations as of December 27, 2024 and December 29, 2023 consisted of the following:Weighted Average Effective Interest Rate atDecember 27, 2024MaturityDecember 27, 2024December 29, 2023Senior secured term loans8.60 %August 2029$260,000 $276,250 2028 Convertible senior notes2.77 %December 2028287,500 287,500 2024 Convertible senior notes— %December 2024— 39,684 Asset-based loan facility6.37 %March 2027120,000 100,000 Finance leases and other financing obligations6.42 %Various52,673 31,892 Unamortized deferred costs and premium(13,389)(17,339)Total debt obligations706,784 717,987 Less: current installments(18,040)(53,185)Total long-term debt$688,744 $664,802 

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Maturities of the Company’s debt, excluding finance leases, for each of the next five years and thereafter at December 27, 2024 are as follows:2025$8,000 20263,000 2027123,000 2028290,500 2029248,000 Thereafter— Total$672,500  Senior Secured Term Loan Credit FacilityOn June 22, 2016, the Company entered into a credit agreement (the “Term Loan Credit Agreement”) with a group of lenders that provides for a senior secured term loan B facility (the “Term Loan Facility”). On August 23, 2022, the Company entered into an eighth amendment (“Eighth Amendment”) in an aggregate principal amount of $300,000 maturing on August 23, 2029 (“2029 Term Loans”), comprising of a refinancing of the then existing term loans balance under the Term Loan Credit Agreement of $167,391 and an incremental borrowing of $132,609. The incremental funds are to be used for capital expenditures, permitted acquisitions, working capital, and general corporate purposes of the Company. Substantially all of the Company’s assets are pledged as collateral. On August 31, 2023, the Company made a voluntary prepayment of $20,000 towards the 2029 Term Loans.