Chewy, Inc. has secured a new seven-year senior secured term loan credit facility totaling $600 million. The proceeds from this new facility, along with existing cash, will be used for fees, premiums, costs, and expenses related to the facility and for general corporate purposes and working capital. The company also amended its existing ABL Credit Agreement, extending the maturity date to June 23, 2031. The new term loan bears interest at an applicable margin plus either a base rate or a Term SOFR rate, with margins of 0.75% for base rate loans and 1.75% for Term SOFR loans. The term loan will amortize quarterly at 1% of the original principal amount annually, with the remaining balance due in seven years. Obligations under the term loan are guaranteed by Chewy's wholly-owned domestic subsidiaries and secured by a first or second-priority security interest in substantially all of the company's assets.