Company: SVV
Filing Date: 2025-09-19
Form Type: 8-K
Source: 0001883313-25-000092
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Company: Savers Value Village, Inc.
Filing Date: 2025-09-19
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On September 18, 2025, (the “Closing Date”), our subsidiaries Evergreen AcqCo 1 LP (the “ US Borrower”), Value Village Canada Inc. (the “ Canadian Borrower” and, together with the US Borrower, the “ Borrowers”), Evergreen AcqCo GP LLC and S-Evergreen Holding Corp. (collectively, the “Loan Parties”) entered into a Credit Agreement with Jefferies Finance LLC, as administrative agent and collateral agent, PNC Bank, National Association, as revolving agent, and the lenders party thereto (the “ Credit Agreement”).

The Credit Agreement provides for a $750.0 million term loan facility (the “Term Loan Facility”) and $180.0 million of revolving credit commitments (the “ Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Credit Facilities”). The proceeds of the Term Loan Facility were used, in part, to repay or redeem all outstanding obligations under (i) the Credit Agreement, dated as of April 26, 2021 (as amended), by and among the Loan Parties, KKR Loan Administration Services LLC, as administrative agent and collateral agent, PNC Bank, National Association, as revolving agent, and the lenders party thereto (the “ Existing Credit Agreement”) and (ii) the Indenture, dated as of February 6, 2023, among Evergreen AcqCo 1 LP (the “ Issuer”), TVI, Inc. as co-issuer (the “Co-issuer” and, together with the Issuer, the “Issuers”), the guarantors party thereto from time to time and Wilmington Trust, National Association, as trustee and as notes collateral agent governing the 9.750% Senior Secured Notes due 2028 (the “ Existing Notes”).

Our principal subsidiaries in the United States and Canada are borrowers under the Senior Secured Credit Facilities, and most of our U. S. and Canadian subsidiaries are guarantors. The Senior Secured Credit Facilities are secured by a first-priority lien on substantially all assets of the borrowers and guarantors, subject to certain exceptions. The Revolving Credit Facility is senior to the Term Loan Facility in right of payment.

The Term Loan Facility matures in September 2032. The Term Loan Facility bears interest at a variable rate equal to a reference rate plus a margin of 2.00% or 3