Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 132

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 132
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December 29, 2024December 31, 2023Term Loan B$795,000 January-28$630,335 $771,335 Real Estate Loan88,140 October-3259,626 80,184 Equipment loans(1)109,625 83,530 56,482 ABL facility(2)October-27168 368 Net impact of debt issuance costs and original issue discounts(5,078)(8,772)Total long-term debt 768,581 899,597 Less: current portion(16,097)(21,086)Long term portion of term debt and financing obligations$752,484 $878,511 (1) Equipment loans have varying maturities from June 2026 to October 2029. The Company has made the following draws upon these agreements: $32.4 million in the fiscal year ended January 1, 2023, $13.1 million in the fiscal year ended December 31, 2023 and $39.1 million in the fiscal year ended December 29, 2024. These draws bear interest ranging from 3.26% through 7.56%.(2) The Company generally utilizes the prime rate for amounts that the Company expects to pay down within 30 days, the interest rate on the ABL facility as of December 29, 2024 and December 31, 2023, was 8.00% and 9.25%, respectively, under the prime rate. Balances that are expected to be carried longer than 30 days, the interest rate on the ABL facility as of December 29, 2024 was 6.11%. 

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As of December 29, 2024, the minimum debt repayments under term debt and financing obligations consisted of the following:(in thousands)2025$16,097202617,043202715,3672028642,35720297,922Thereafter74,873Total$773,659The Term Loan B, the ABL Facility, and the equipment loans are debt of UBH and its’ subsidiaries. There are no material differences between the financial statements of UBI and its consolidated subsidiaries and the financial statements of UBH and its consolidated subsidiaries, except for the warrant liability and associated gain on remeasurement of warrant liability as described in Note 17. Warrants, the TRA described in Note 14. Income Taxes and