UNFI Announces Pricing Proposal for Senior Secured Term Loan
PROVIDENCE, RI – (COMMERCIAL THREAD) – United Natural Foods, Inc. (NYSE: UNFI) (“UNFI”) today announced that it has initiated a re-pricing transaction of its senior secured term loan facility that aims to reduce the applicable margin ( as defined in the term loan agreement) from 50 to 75 basis points.
The closing of the proposed price review is expected to occur in February 2021, subject to market and other customary conditions.
About United Natural Foods
UNFI is North America’s premier food wholesaler offering the widest variety of products to customers across North America, including health food superstores, independent retailers, conventional supermarket chains, e-commerce retailers. and food service customers. By offering this more comprehensive selection of “full stores” and compelling brands for every aisle, UNFI is uniquely positioned to bring great food, more choice and new thinking to customers around the world. Today, UNFI is the largest publicly traded grocery distributor in America. To learn more about how UNFI is advancing nutrition, visit www.unfi.com.
Cautionary Language Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the business of the Company that are not historical facts are “forward-looking statements” that involve risk and uncertainties and are based on current expectations and management’s estimates; actual results may differ materially. Examples of such statements include statements regarding the proposed closure and the proposed terms of the amendment. Risks and uncertainties that could affect such statements include the secured debt market and those described in documents filed by the Company under the Securities Exchange Act of 1934, as amended, including its annual report on Form 10 -K for the fiscal year ended August 1, 2020. filed with the Securities and Exchange Commission (the “SEC”) on September 29, 2020 and other documents filed by the Company with the SEC, all forward-looking statements are made in accordance with to the Private Securities Litigation Reform Act of 1995 and, as such, speak only from the date made. Any estimate of future operating results is based on a number of assumptions, many of which are beyond the control of the Company and should in no way be interpreted as a guarantee that such results will actually occur.