Lamb Weston Files 8-K for Material Agreement

Ticker: LW · Form: 8-K · Filed: Sep 27, 2024 · CIK: 1679273

Sentiment: neutral

Topics: material-agreement, filing, corporate-update

TL;DR

LW just filed an 8-K for a new material agreement - big stuff happening.

AI Summary

Lamb Weston Holdings, Inc. filed an 8-K on September 27, 2024, reporting the entry into a material definitive agreement and filing financial statements and exhibits. The filing details the company's corporate information, including its address in Eagle, Idaho, and its fiscal year end of May 25.

Why It Matters

This filing indicates a significant new agreement for Lamb Weston, which could impact its future financial performance and operational strategy.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's financial health and stock performance.

Key Numbers

Key Players & Entities

FAQ

What is the nature of the material definitive agreement filed by Lamb Weston Holdings, Inc.?

The filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in the provided text.

When was this 8-K filing submitted?

The filing was submitted on September 27, 2024.

What is Lamb Weston Holdings, Inc.'s principal executive office address?

The principal executive offices are located at 599 S. Rivershore Lane, Eagle, Idaho 83616.

What is the company's fiscal year end?

Lamb Weston Holdings, Inc.'s fiscal year ends on May 25.

What are the key items reported in this 8-K filing?

The key items reported are the entry into a material definitive agreement and the filing of financial statements and exhibits.

Filing Stats: 851 words · 3 min read · ~3 pages · Grade level 10.8 · Accepted 2024-09-27 16:58:33

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Term Loan Credit Agreement On September 27, 2024 (the "Closing Date"), Lamb Weston Holdings, Inc. (the "Company") entered into the First Amendment to Amended and Restated Credit Agreement (the "Amendment"), which amends the Company's existing Amended and Restated Credit Agreement, dated as of May 3, 2024 (the "Existing Credit Agreement" and, as amended by the Amendment, the "Amended Credit Agreement"), among the Company, as the borrower, the guarantors party thereto, the lenders from time to time party thereto and AgWest Farm Credit, PCA, as administrative agent. The Existing Credit Agreement provided for, among other things, (i) a $300.0 million term loan facility (the "Term A Loan"), (ii) a $450.0 million term loan facility (the "Term A-3 Loan") and (iii) a $325.0 million term loan facility (the "Term A-4 Loan"). The Amendment amends the Existing Credit Agreement for the purpose of, among other things, establishing an additional $500.0 million term loan facility (the "Term A-5 Loan"), a portion of which was used on the Closing Date to repay the Term A Loan in full. Borrowings of the Term A-5 Loan bear interest at a per annum rate equal to (i) an applicable rate plus (ii) the Adjusted Term SOFR Rate, the Base Rate or the Fixed Rate (each as defined in the Amended Credit Agreement). The applicable rate is based on the Company's consolidated net leverage ratio and ranges between 1.85% to 2.85% (or, in the case of Base Rate-based loans, 0.85% to 1.85%). The Company is required to make amortization repayments of the Term A-5 Loan, commencing on the last business day of March 2025, in equal quarterly installments equal to 5.00% per annum of the original principal amount of the Term A-5 Loan, with the remaining principal balance payable on the maturity date (subject to adjustment for prepayments). The Term A-5 Loan matures on September 27, 2031. General A copy of the Amendment is filed as Exhibit 10.1 to t

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 First Amendment to Amended and Restated Credit Agreement, dated as of September 27, 2024, among Lamb Weston Holdings, Inc., the guarantors party thereto, the lenders party thereto and AgWest Farm Credit, PCA, as administrative agent 104 Cover Page Interactive Data File (cover page XBRL tags embedded within the Inline XBRL document) - 2 -

SIGNATURES

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. LAMB WESTON HOLDINGS, INC. By: /s/ Eryk J. Spytek Name: Eryk J. Spytek Title: General Counsel and Chief Compliance Officer Date: September 27, 2024 - 3 -

View Full Filing

View this 8-K filing on SEC EDGAR

View on Read The Filing