Business Context and Reporting Period
Company: MillerKnoll, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: February 10, 2026
Event: Entry into a Material Definitive Agreement (Amendment No. 5 to Credit Agreement).
Key Financial Metrics
This filing reports on a debt refinancing transaction rather than operating performance. Key debt metrics include:
- New Facility: 2026 Term Loan B Facility.
- Outstanding Principal: $548,625,000 as of the Closing Date.
- Initial Aggregate Principal Amount: $550,000,000.
- Maturity Date: August 7, 2032.
- Interest Rate (RFR Loans): Term SOFR or Daily Simple SOFR + 2.00% margin.
- Interest Rate (ABR Loans): Base Rate + 1.00% margin.
Note: The filing text does not provide values for revenue, profit, cash flow, margins, or liquidity ratios.
Material Changes Versus Prior Period
The Company refinanced and replaced the entire existing 2025 Term Loan B Facility with the new 2026 Term Loan B Facility. Material changes include:
- Interest Margin Reduction: Applicable margins were reduced by 25 basis points for both RFR Loans and ABR Loans compared to the 2025 facility.
- Prepayment Terms: The Company may generally prepay without premium or penalty, subject to customary breakage costs. However, prepayments within the first six months following a "repricing event" that results in a lower yield require a 1.00% prepayment premium.
Guidance, Outlook, and Risks
Management Commentary: The filing indicates the amendment was executed to refinance existing debt with improved interest rate terms. No specific forward-looking guidance on revenue or earnings is provided in this document.
Risks and Contingencies: The primary financial obligation is the repayment of the $548.6 million term loan by August 2032. Prepayment flexibility is subject to specific conditions regarding repricing events in the first six months post-closing.
Investor Verification Checklist
- Verify the exact interest rate spread reduction impact on future interest expense.
- Confirm the total outstanding debt load including any other facilities not mentioned in this specific amendment.
- Review the full text of Exhibit 4.1 (Amendment No. 5) for detailed covenants and definitions of "repricing events."
- Assess the Company's liquidity position to ensure coverage of the new debt service requirements.