The Chefs’ Warehouse, Inc. Announces Redemption of All Outstanding 2.375% Convertible Senior Notes Due 2028
The Chefs’ Warehouse announced the redemption of all $287.5 million aggregate principal amount of its 2.375% Convertible Senior Notes due 2028, effective October 15, 2026. The redemption was triggered because the company's stock price exceeded 130% of the conversion price on at least 20 trading days within the last 30-day period. To fund the redemption and refinance existing debt, the company has upsized its new term loan facility to $675 million from the previously marketed $625 million. Jefferies Finance LLC has priced and allocated amounts to lenders, though the completion of the financing remains subject to definitive documentation and customary conditions.
Key figures
- Deal Value Usd
- 675000000
- Notes principal
- $287.5 million
- Conversion rate increase
- 22.5912 to 22.9527 shares per $1,000 principal
- Redemption price per 1000
- $1,007.92
- Original term loan marketed
- $625 million
- Conversion trigger threshold
- 130% of conversion price
AI analysis
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