UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On November 10, 2022 (the “Closing Date”), Monro, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its Amended and Restated Credit Agreement with a syndicate of banks led by Citizens Bank, N.A. as administrative agent (the “Credit Agreement”), which had previously been amended in June 2020 and October 2021 (the “Previous Amendments” and, with the Credit Agreement, the “Amended Credit Agreement”).
This Amendment amends certain of the terms in the Amended Credit Agreement. Specifically, the term of the facility is extended for five (5) years from the Closing Date. Further, the interest rate charged on borrowings will now be based on 0.10% over SOFR, replacing the previously used LIBOR.
Except as amended by the Amendment, the remaining terms of the Amended Credit Agreement remain in full force and effect. The material terms of the Credit Agreement, as amended by the Previous Amendments, are described in the Company’s Current Reports on Form 8-K filed with the Securities and Exchange Commission on May 1, 2019, June 11, 2020 and October 8, 2021, which descriptions are incorporated herein by reference. The Company intends to file the Amendment as Exhibit 10.22c to its Form 10-Q for the quarter ending December 24, 2022.
On November 15, 2022, the Company issued a press release announcing the Amendment. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press release issued by the Company on November 15, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MONRO, INC. (Registrant) | ||||||
| November 15, 2022 | By: | /s/ Maureen E. Mulholland | ||||
| Maureen E. Mulholland | ||||||
| Executive Vice President - Chief Legal Officer and Secretary | ||||||