Savers Value Village Enters Credit Agreement

Ticker: SVV · Form: 8-K · Filed: Jun 28, 2024 · CIK: 1883313

Savers Value Village, Inc. 8-K Filing Summary
FieldDetail
CompanySavers Value Village, Inc. (SVV)
Form Type8-K
Filed DateJun 28, 2024
Risk Levelmedium
Pages3
Reading Time3 min
Key Dollar Amounts$0.000001, $50,000,000.00
Sentimentneutral

Sentiment: neutral

Topics: debt, financing, material-agreement

TL;DR

SVV just signed a new credit deal, locking in financing.

AI Summary

On June 27, 2024, Savers Value Village, Inc. entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the company. This agreement is a significant event for the company's financial structure.

Why It Matters

This filing indicates Savers Value Village has secured new financing or restructured existing debt, which could impact its operational flexibility and financial leverage.

Risk Assessment

Risk Level: medium — Entering into new credit agreements can introduce financial obligations and covenants that may pose risks if not managed effectively.

Key Players & Entities

  • Savers Value Village, Inc. (company) — Registrant
  • June 27, 2024 (date) — Date of earliest event reported
  • Delaware (jurisdiction) — State of Incorporation
  • 001-41733 (identifier) — Commission File Number
  • 83-4165683 (identifier) — I.R.S. Employer Identification Number

FAQ

What type of credit agreement did Savers Value Village enter into?

The filing indicates the entry into a credit agreement, which constitutes a material definitive agreement and creates a direct financial obligation.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is June 27, 2024.

Under which state is Savers Value Village incorporated?

Savers Value Village, Inc. is incorporated in Delaware.

What is the Commission File Number for Savers Value Village?

The Commission File Number for Savers Value Village is 001-41733.

Does this filing involve any off-balance sheet arrangements?

The filing explicitly mentions the 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant', indicating potential off-balance sheet implications.

Filing Stats: 754 words · 3 min read · ~3 pages · Grade level 12.4 · Accepted 2024-06-28 16:22:52

Key Financial Figures

  • $0.000001 — ch registered Common stock, par value $0.000001 SVV The New York Stock Exchange Indic
  • $50,000,000.00 — nt) in an aggregate principal amount of $50,000,000.00. The foregoing description of the Four

Filing Documents

01 - Entry into a Material Definitive Agreement

Item 1.01 - Entry into a Material Definitive Agreement. On June 27, 2024, Evergreen Acqco GP LLC, S-Evergreen Holding Corp., Evergreen AcqCo 1 LP (the " US Borrower "), Value Village Canada Inc. (the " Canadian Borrower " and, together with the US Borrower, the " Company ") and certain of their subsidiaries entered into an amendment (the " Fourth Amendment ") to the Company's Credit Agreement, dated as of April 26, 2021 (as amended from time to time, including by that certain First Amendment, dated as of November 8, 2021, that certain Second Amendment, dated as of November 23, 2022, and that certain Third Amendment, dated as of January 30, 2024, the " Existing Credit Agreement ", the Existing Credit Agreement as amended by the Fourth Amendment, the " Credit Agreement "), among the Company, S-Evergreen Holding Corp., Evergreen Acqco GP LLC, the lenders party thereto, the subsidiary guarantors party thereto, KKR Loan Administration Services LLC, as administrative agent and collateral agent, and PNC Bank, National Association, as revolving agent. Among other things, the Fourth Amendment (i) replaces the CDOR Rate (as defined in the Existing Credit Agreement) in the Existing Credit Agreement with Term CORRA (as defined in the Credit Agreement) for all purposes under the Credit Agreement and under any other Loan Document (as defined in the Credit Agreement), and (ii) establishes an Incremental Revolving Facility (as defined in the Credit Agreement) in an aggregate principal amount of $50,000,000.00. The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Fourth Amendment, which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. Item 2.03 - Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated into this

01 - Financial Statements and Exhibits

Item 9.01 - Financial Statements and Exhibits. (d) Exhibit s Exhibit Number Description 10.1 Fourth Amendment to Credit Agreement, dated as of June 2 7 , 2024 , by and among Evergreen Acqco 1 LP, as US Borrower, Value Village Canada Inc., as Canadian Borrower, S-Evergreen Holding Corp., as Holdings, Evergreen Acqco GP LLC, as Holdings GP, the other Guarantors party thereto , KKR Loan Administration Services LLC, as Administrative Agent and Collateral Agent and P NC Bank , National Association, as revolving agent . 104 Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline SIGNATURE 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. SAVERS VALUE VILLAGE, INC. Date: June 28, 2024 By: Name: Richard Medway Title: General Counsel, Chief Compliance Officer, Chief Sustainability Officer and Secretary

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