Company: UTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001628280-25-047281
Chunk: 89

Company: Utz Brands, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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ivable Agreement liability19.0 24.3 Supplemental retirement and salary continuation plans7.3 6.9 Long-term portion of an interest rate hedge liability1.6 — Total accrued expenses and other$170.0 $164.2 

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9.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 thirty-nine weeks ended September 28, 2025.Term debt and revolving credit facilities consisted of the following:Debt (in millions)Original Principal BalanceMaturity DateAs ofSeptember 28, 2025As of December 29, 2024Term Loan B$795.0 January-32$630.3 $630.3 Real Estate Term Loan (1)$88.1 October-3257.7 59.6 Equipment loans (2)$187.8 147.2 83.5 Asset based lending (“ABL”) facilityJuly-2820.7 0.2 Net impact of debt issuance costs and original issue discount(5.2)(5.0)Total long-term debt850.7 768.6 Less: current portion(25.9)(16.1)Long term portion of term debt and financing obligations$824.8 $752.5 (1) Loan by City National Bank which is secured by a majority of the real estate assets of the Company ("Real Estate Term Loan").(2) Equipment loans have varying maturities from June 2026 to October 203