United Natural Foods Inc. Amends Term Loan, Lowers Margin to 4.00%

What Happened
United Natural Foods, Inc. (UNFI) announced on June 18, 2026 that it and its co‑borrowers entered into Amendment No. 5 to their Term Loan Agreement (originally dated October 22, 2018). The amendment reprices the borrowers’ approximately $371 million outstanding term loan by lowering the applicable margin over the secured overnight financing rate (SOFR) from 4.75% to 4.00%. JPMorgan Chase Bank, N.A. serves as administrative agent and collateral agent for the lenders.

Key Details

• Amendment No. 5 executed on June 18, 2026 to the Term Loan Agreement (original date: Oct 22, 2018).
• Outstanding term loan balance affected: approximately $371 million.
• Margin change: from SOFR + 4.75% down to SOFR + 4.00%.
• Parties: UNFI, SUPERVALU Inc., UNFI Wholesale, Inc., UNFI Distribution Company, LLC (co‑borrowers), lenders party thereto, and JPMorgan Chase Bank, N.A. as agent.
• Other material terms of the Term Loan Agreement remain unchanged; the amendment will be filed as an exhibit to UNFI’s 2026 Form 10‑K.

Why It Matters
Lowering the margin over SOFR reduces UNFI’s interest cost on the outstanding term loan, which can modestly lower cash interest expense and improve near‑term liquidity/interest serviceability. This is a contractual financing change (not an operational or earnings disclosure) and the company describes it as a repricing rather than other modifications; investors should note the roughly $371M principal affected and that all other material loan terms remain in force. The filing also includes an Item 2.03 notice indicating creation of a direct financial obligation related to this financing amendment.