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Get filing alertsHillman refinances $735M term loan and $375M ABL facility, extending maturities to 2033/2031
Filed July 22, 2026 · Period ending July 22, 2026 · ~1 min read
Key Changes
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Closed $735M Term Loan B maturing July 2033 at SOFR+200bps, refinancing prior term loan and repaying outstanding revolver balances; pricing matches prior facilities
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Established $375M asset-based revolving facility maturing July 2031 at SOFR+125-150bps (varies by availability), currently undrawn; replaces prior 2018 ABL agreement
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Term loan contains no financial maintenance covenants and is secured by substantially all assets of borrower and guarantors
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Management stated refinancing extends debt maturity profile and supports long-term strategic priorities including acquisitions
Exhibit 99.1 view on EDGAR →
Summary
Hillman Solutions refinanced its entire debt structure on July 22, 2026, replacing credit agreements from 2021 and 2018 with a new $735 million term loan and $375 million asset-based revolving facility. The term loan matures in July 2033 and bears interest at SOFR plus 200 basis points, while the ABL revolver matures in July 2031 at SOFR plus 125-150 basis points depending on availability.
Both facilities maintain pricing consistent with the prior agreements. The term loan proceeds refinanced all outstanding term debt and repaid revolving balances under the old facilities, which were terminated. The new revolver is currently undrawn. For retail holders, this is a routine refinancing that extends debt maturities by several years without changing pricing.
The company now has no near-term debt maturities and maintains $375 million of undrawn revolving capacity for working capital and growth. Management characterized the transaction as enhancing financial flexibility and supporting strategic priorities including acquisitions, though the filing provides no specific capital allocation plans beyond general corporate purposes.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Hillman refinanced $735M term loan and $375M ABL facility, replacing prior credit agreements dated 2021 and 2018.
Added in current filing · verify on EDGAR →
On July 22, 2026, the Borrower and Holdings entered into a new term loan credit agreement with Jefferies Finance LLC, as administrative agent, and the lenders and other parties thereto (the “Term Credit Agreement”), which provided for a new senior secured term loan facility of $735.0 million.
The company entered into a new $735 million senior secured term loan facility. The proceeds refinanced all outstanding term loans under the prior 2021 credit agreement and all revolving loans under the prior 2018 ABL facility, terminating both prior agreements. This is a complete refinancing of the company's debt structure.
Added in current filing · verify on EDGAR →
Pricing for all term loans are at the Borrower’s option either SOFR plus a margin of 2.00% or ABR plus a margin of 1.00%. The stated maturity date of the initial term loans under the Term Credit Agreement is July 22, 2033.
The new term loan bears interest at SOFR plus 2.00% or ABR plus 1.00%, at the borrower's option, and matures July 22, 2033. The facility contains no financial maintenance covenants and is secured by substantially all assets of the borrower and guarantors.
Added in current filing · verify on EDGAR →
Also on July 22, 2026, the Borrower and The Hillman Group Canada ULC, a wholly-owned subsidiary of the Borrower (the “Canadian Borrower”), also entered into a new asset-based revolving credit agreement with U.S. Bank National Association, as administrative agent, and the lenders and other parties thereto (the “ABL Credit Agreement”), which provides for aggregate senior secured revolving commitments of $375.0 million.
The company established a new $375 million asset-based revolving credit facility, with $325 million available to the U.S. borrower and $50 million to the Canadian borrower, subject to borrowing base limitations. This facility will finance working capital needs and general corporate purposes.
Added in current filing · verify on EDGAR →
Pricing for revolving credit loans under the ABL Credit Agreement are at the Borrower’s option either SOFR (or Term Canadian Overnight Repo Rate Average (“CORRA”) in the case of Canadian Dollar loans) plus a margin varying from 1.25% to 1.50% per annum based on availability or an alternate base rate (or a Canadian prime rate or alternate base rate in the case of Canadian Dollar loans) plus a margin varying from 0.25% to 0.50% per annum based on availability. The stated initial maturity date of the revolving credit commitments under the ABL Credit Agreement is July 22, 2031.
The new ABL facility bears interest at SOFR plus 1.25% to 1.50% (or alternate base rate plus 0.25% to 0.50%), with pricing varying based on availability. The facility matures July 22, 2031. Canadian dollar loans use CORRA as the benchmark rate.
Event · Exhibit 99.1
Hillman refinanced debt with $735M Term Loan B due 2033 and $375M ABL Revolver due 2031, extending maturities and maintaining prior pricing.
Added in current filing · view on EDGAR →
a new $735 million senior secured Term Loan B ("Term Loan B") and a $375 million asset-based revolving credit facility ("ABL Revolver").
Proceeds from the Term Loan B were primarily used to refinance the Company's existing term loan, repay amounts outstanding under its existing revolving credit facility, and pay related fees and expenses.
The Term Loan B matures in July 2033 and is currently priced at SOFR +200 basis points.
Hillman closed a $735 million Term Loan B maturing in July 2033, priced at SOFR plus 200 basis points. Proceeds refinanced the existing term loan, repaid outstanding revolving credit balances, and covered transaction fees. The pricing matches the previous credit facilities. Note: these figures were previously disclosed in the company's Jul 13, 2026 8-K.
Added in current filing · view on EDGAR →
The ABL Revolver, which currently has a zero balance, matures in July 2031 and is currently priced at SOFR +125 basis points. The pricing of both the Term Loan B and the ABL Revolver are consistent with the previous credit facilities.
Hillman established a $375 million asset-based revolving credit facility maturing in July 2031, priced at SOFR plus 125 basis points. The facility currently has no outstanding balance. Pricing is consistent with the prior revolving facility.
Added in current filing · view on EDGAR →
"This refinancing meaningfully extends our debt maturity profile and enhances our financial flexibility,” said Jon Michael Adinolfi, Chief Executive Officer of Hillman. "It reflects the continued strength of our business and positions us well to invest in our core operations and pursue value-creating growth opportunities. These transactions give us a capital structure that supports our long-term strategic priorities including acquisitions."
Management stated the refinancing extends debt maturities and enhances financial flexibility. The CEO indicated the new capital structure supports long-term strategic priorities including acquisitions, reflecting business strength and positioning the company for growth investments.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 23, 2026 · How we verify