Petco Health and Wellness Company Inc. has entered into a Second Amendment to its existing First Lien Credit Agreement, securing $900 million in new refinancing term loans from a group of lenders led by Citibank, N.A. as administrative agent. In addition, Petco issued $600 million in 8.250% senior secured notes due 2031. The combined proceeds from the new loans and notes, along with cash on hand, will be used to repay Petco’s existing term loan facility, cover related fees and expenses, and for general corporate purposes. The new term loans carry an interest rate of Term Benchmark plus 4.25%, amortize at 1% per year, and mature five years from the amendment’s effective date. The financing agreements also include certain restrictive covenants on additional debt, dividends, asset sales, and related matters.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Petco Health and Wellness Company Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-033607), on February 02, 2026, and is solely responsible for the information contained therein.
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