CHEF - The Chefs' Warehouse raises $50M through private debt offering

The Chefs’ Warehouse (CHEF) has priced additional $50M of its 1.875% convertible senior notes due December 1, 2024 in a private placement. Offering is expected to close on March 1 and is expected to result in ~$50.4M in net proceeds. Interest will be payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2021. The company intends to use ~$31.2M of the net proceeds to repay outstanding amounts under its term loan facility and the remainder of the net proceeds for working capital and general corporate purposes.

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The Chefs’ Warehouse raises $50M through private debt offering