United Natural Foods, Inc. announced the pricing of the previously announced refinancing of its senior secured term loan facility. The amended term loan facility will be a 7-year loan with a principal amount of $500.0 million. UNFI expects to use the proceeds of the Term Loan, together with borrowings under its asset-based revolving credit facility, to repay the existing term loan.

The Term Loan was initially launched with an indicated interest rate of SOFR + 5.00% to 5.25% and a price range of 97 to 98. Final pricing reflects an interest rate of SOFR + 4.75% and an issue price of 98. The refinancing of the Term Loan is expected to close in early May, subject to the satisfaction of customary conditions.