Chefs’ Warehouse increases revolver to $300 million, ups margin

By Wendy Van Sickle

Columbus, Ohio, July 11 – Chefs’ Warehouse Inc. amended its senior secured asset-based revolving credit agreement dated June 29, 2018 on July 7 to increase commitments by $100 million to $300 million and increase the margin, which now ranges from 150 basis points to 175 bps above term SOFR, depending on availability, according to an 8-K filing with the Securities and Exchange Commission.

Also, the sublimit for swingline loans was raised to $37.5 million from $25 million, and the submit for letters of credit was raised to $35 million from $30 million.

BMO Harris Bank NA is the administrative agent. Chefs’ Warehouse Parent, LLC and Dairyland USA Corp. are borrowers under the credit agreement.

Chefs’ Warehouse is a Ridgefield, Conn.-based distributor of specialty food products.

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