Company: SVV
Filing Date: 2025-09-19
Form Type: 8-K
Source: 0001883313-25-000092
Chunk: 1

Company: Savers Value Village, Inc.
Filing Date: 2025-09-19
Form: 8-K
Item: Item 1.01
Chunk 1
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.00% based on the type of loan. The applicable margin under the Term Loan Facility will be reduced by 0.25% per annum in the event that the US Borrower has received a public corporate credit rating equal to BB- or better (with stable or better outlook) from S& P Global Ratings and a public corporate family rating equal to Ba3 or better (with a stable or better outlook) from Moody’s Investors Service, Inc. The Borrowers are required to prepay the Term Loan Facility with a percentage of their annual excess cash flow if their first lien net leverage ratio exceeds 4.00 to 1.00. The Borrowers are also required to prepay the Term Loan Facility with a percentage of the net cash proceeds of certain asset sales, subject to customary reinvestment provisions, when the first lien leverage ratio exceeds 4.00 to 1.00. The Borrowers may prepay amounts outstanding under the Term Loan Facility, subject to a 1.00% prepayment premium for prepayments made within six months of the Closing Date (subject to certain exceptions).

The Revolving Credit Facility matures in September 2030. The maximum available amount under the Revolving Credit Facility is $180.0 million, with $75.0 million available for letters of credit and a swingline sublimit of $25.0 million. Revolving loan draws are permitted in both U. S. and Canadian dollars and interest is variable at a rate equal to the reference rate plus a margin ranging from 1.50% to 3.00% based on the type of loan and the Borrowers’ first lien net leverage ratio.

The Senior Secured Credit Facilities also have a customary uncommitted incremental facility equal to (a) the greater of $313.3 million and 1.0 times our EBITDA plus unused amounts under the “general” debt basket, plus (b) an additional amount such that (x) the Borrowers’ pro forma net first lien leverage ratio is less than or equal to 4.50 (or less than the net first lien leverage ratio immediately prior to the incurrence of such additional debt) (in the case of first-lien debt), (y) either the Borrowers’ pro forma net secured net leverage ratio is less than or equal to 6.50 (or less than the net secured leverage ratio immediately prior to the incurrence of such additional debt) or the Borrowers’ pro forma interest coverage ratio is greater than or equal to 2.00