Loan & DebtMay 18, 2026, 04:46 PM
Zevia Extends Revolving Credit Maturity to 2030, Reduces Margin
AI Summary
Zevia LLC, a subsidiary of Zevia PBC, entered into a First Amendment to its Loan and Security Agreement with Bank of America, N.A. The amendment extends the maturity date of the Secured Revolving Line of Credit to February 22, 2030, and reduces the credit spread adjustment to 0.10%. Additionally, certain financial covenants were updated, including a minimum liquidity requirement of $7,000,000 and a minimum fixed charge coverage ratio of 1.00 to 1.00 under specific conditions.
Key Highlights
- Maturity date of Secured Revolving Line of Credit extended to February 22, 2030.
- Credit spread adjustment applicable to Term SOFR margin reduced to 0.10%.
- Company must maintain a minimum liquidity of $7,000,000 until fixed charge coverage ratio of 1.00 to 1.00 is met for two consecutive quarters.
- Minimum fixed charge coverage ratio of 1.00 to 1.00 required under certain conditions.
- The First Amendment amends the Loan and Security Agreement dated February 22, 2022.
Price Impact
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