Flowers Foods secures $400M term loan to refinance maturing notes, extends covenant relief

Filed April 7, 2026 · Period ending April 6, 2026 · ~1 min read

Key Changes

• high

  Entered $400M delayed-draw term loan facility to refinance $400M 3.500% notes maturing October 2026, shifting from fixed to floating-rate debt tied to SOFR plus 0.875%–2.000% margin based on leverage.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Extended covenant holiday through October 2027, allowing leverage ratio up to 4.00:1.00 instead of standard 3.75:1.00, providing flexibility following recent acquisitions or investments.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Term loan requires minimum 4.50:1.00 interest coverage ratio and standard leverage covenant; proceeds restricted to repaying maturing notes and transaction costs with no net debt increase.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →