Company: SENEA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025429
Chunk: 17

Company: Seneca Foods Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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 fixed rate of 5.56%. As of June 28, 2025, the principal balance of the finance obligation was $19.4 million, of which $2.7 million is included within the current portion of long-term debt, finance and lease obligations on the condensed consolidated balance sheet.

8

SENECA FOODS CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Long-term debt is comprised of the following (in thousands):

			As of:

			June 28,

			June 29,

			March 31,

			2025

			2024

			2025

			Revolving credit facility

			$
			10,363

			$
			209,189

			$
			1,000

			Term loans

			Term Loan A-1

			Outstanding principal

			-

			84,000

			81,000

			Unamortized debt issuance costs

			-

			(29
			)

			(5
			)

			Term Loan A-1, net

			-

			83,971

			80,995

			Term Loan A-2

			Outstanding principal

			264,750

			279,750

			268,500

			Unamortized debt issuance costs

			(616
			)

			(845
			)

			(673
			)

			Term Loan A-2, net

			264,134

			278,905

			267,827

			Total long-term debt

			274,497

			572,065

			349,822

			Less current portion

			15,000

			99,000

			96,000

			Long-term debt, less current portion

			$
			259,497

			$
			473,065

			$
			253,822

Revolving Credit Facility — On December 23, 2024, the Company entered into a Loan and Security Agreement (the “Agreement”), with Wells Fargo Bank, National Association as agent for the various lenders of a senior revolving credit facility of up to $450.0 million that is seasonally adjusted to a maximum of $400.0