Chewy, Inc. has entered into a new seven-year, $600 million senior secured term loan credit facility and separately amended its existing asset-based lending (ABL) facility to extend its maturity. The proceeds from the new term loan are designated for general corporate purposes and working capital.
Key Details
- New Term Loan: Entered into a new senior secured term loan credit facility, dated June 23, 2026, for an aggregate principal amount of $600.0 million.
- Loan Terms: The seven-year facility bears interest at Term SOFR plus 1.75% or a base rate plus 0.75%, and will amortize in quarterly installments equal to 1% of the original principal annually.
- ABL Facility Amendment: The maturity date of the company's existing ABL Credit Agreement was extended to June 23, 2031.
- Security & Guarantees: Obligations under the new term loan are guaranteed by Chewy’s wholly-owned domestic subsidiaries and are secured by substantially all of the company's assets.