United Natural Foods Inc 8-K, filed Aug 17, 2020
United Natural Foods Inc (UNFI)
8-K
2020-08-17
For: 2020-08-14
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Added on
April 08, 2026
About this 8-K
United Natural Foods Inc filed this 8-K on August 17, 2020, reporting on events of August 14, 2020.
Items reported
- Item 1.01: Entered into a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 14, 2020
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Item 1.01 Entry into a Material Definitive Agreement.
Amendment to ABL Loan Agreement
On August 14, 2020, United Natural Foods, Inc., a Delaware corporation (“UNFI”), and United Natural Foods West, Inc., a California corporation (collectively, the “U.S. Borrowers”), UNFI Canada, Inc., a corporation organized under the Canada Business Corporations Act (the “Canadian Borrower” and, together with the U.S. Borrowers, the “ABL Borrowers”), the certain financial institutions that are parties thereto as lenders, and Bank of America, N.A. as administrative agent for the Lenders (the “ABL Administrative Agent”), entered into the Third Amendment to Loan Agreement (the “Amendment”), amending the Loan Agreement, dated as of August 30, 2018, as amended (the “ABL Loan Agreement”), by and among the ABL Borrowers, the ABL Administrative Agent, the financial institutions party thereto as lenders and the other parties party thereto.
The Amendment provides for, among other things, (i) the addition of certain perishable inventory to the calculation of the Borrowing Base (as defined in the ABL Loan Agreement), (ii) the addition of income attributable to the business associated with the Cub Foods banner and the Shoppers banner accounted for within discontinued operations to the definition of Consolidated Net Income, (iii) an increase of the sublimit of availability for letters of credit to $300 million which includes an increased further sublimit for the Canadian Borrower of $25 million, and (iv) other administrative changes.
The foregoing description of the Amendment in this Form 8-K is only a summary and does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an Exhibit to UNFI’s Annual Report on Form 10-K for the year ended August 1, 2020.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
UNITED NATURAL FOODS, INC. |
By: /s/ John W. Howard |
Name: John W. Howard |
Title: Chief Financial Officer |
Date: August 17, 2020