CAVA extends and expands credit facility

CAVA Group, Inc. entered into a Third Amendment to its Credit Agreement, extending its revolving credit facility and increasing available commitments.

Rhea-AI Filing Summary

CAVA Group, Inc. entered into a Third Amendment to its Credit Agreement, extending its revolving credit facility and increasing available commitments. The maturity date was moved from March 11, 2027 to March 20, 2031 and total revolving commitments rose from $75 million to $150 million.

Borrowings will bear interest at either a base rate plus 0.00%–1.25% or Term SOFR plus 1.00%–2.25%, with the margin tied to CAVA’s Total Rent Adjusted Net Leverage Ratio. The facility is unconditionally guaranteed by certain domestic restricted subsidiaries and secured by a first-priority lien on substantially all assets of the company and guarantors.

The agreement includes customary covenants limiting additional debt, liens, dividends, investment activity and affiliate transactions, and provides for acceleration and cash collateralization of letters of credit upon events of default.

Insights

Capital structure and credit facilities analyst

CAVA doubled its revolving credit capacity and pushed out maturity to 2031.

The amended credit facility extends CAVA’s debt maturity to 2031 and increases revolving commitments from $75 million to $150 million. This provides significantly more committed liquidity while preserving flexibility to draw only as needed.

Pricing is floating, tied to a Total Rent Adjusted Net Leverage Ratio, with margins ranging from 0.00%–1.25% over a base rate or 1.00%–2.25% over Term SOFR. First-priority security interests and subsidiary guarantees, plus customary covenants and default remedies, align with a traditional secured corporate revolver structure.

Overall, this looks like a proactive refinancing that secures long-dated committed capital. The actual impact on leverage and interest expense will depend on future borrowing levels under the expanded facility.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What credit agreement change did CAVA (CAVA) announce?

CAVA amended its existing Credit Agreement through a Third Amendment. The change extends the revolving credit facility’s maturity and increases total revolving commitments, while maintaining secured, guaranteed status with customary covenants and default provisions for a corporate revolver structure.

How much did CAVA’s revolving credit commitments increase to under the amendment?

CAVA’s total revolving commitments increased from $75 million to $150 million. This doubling of capacity provides more committed liquidity, giving the company greater financial flexibility without requiring immediate borrowing or use of the full facility amount.

When does CAVA’s amended credit facility now mature?

The amended credit facility now matures on March 20, 2031. This replaces the prior March 11, 2027 maturity date, giving CAVA a significantly longer committed financing horizon for its revolving borrowings from participating lenders.

What interest rates apply to borrowings under CAVA’s credit facility?

Borrowings carry either a base rate plus a 0.00%–1.25% margin or Term SOFR plus a 1.00%–2.25% margin. The exact margin depends on CAVA’s Total Rent Adjusted Net Leverage Ratio, linking pricing to the company’s credit profile over time.

How is CAVA’s amended credit facility secured and guaranteed?

The facility is unconditionally guaranteed by CAVA’s domestic restricted subsidiaries, excluding certain entities. It is secured by a first-priority security interest in substantially all assets of the company and guarantors, plus a first-priority pledge of each subsidiary guarantor’s capital stock.

What happens if CAVA defaults under the amended credit facility?

If an event of default occurs, lenders may terminate commitments, accelerate all outstanding loans and related obligations, and require cash collateralization of outstanding letters of credit. These remedies are typical protections for lenders under secured corporate revolving credit facilities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/25/2026 - 01:54 PM Learn about SEC filing dates

0001639438FALSE00016394382026-03-202026-03-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 20, 2026

CAVA Group, Inc.

(Exact name of registrant as specified in its charter)

Delaware			001-41721			47-3426661
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

14 Ridge Square NW, Suite 500

Washington, DC 20016

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (202) 400-2920

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

CAVA

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01    Entry into a Material Definitive Agreement.

On March 20, 2026, CAVA Group, Inc. (the “Company”), the other loan parties party thereto, the financial institutions listed on the signature pages thereto and JP Morgan Chase Bank, N.A. as administrative agent (“Administrative Agent”), entered into Amendment No. 3 (the “Third Amendment”) to the Credit Agreement, dated March 11, 2022, by and among the Company, the lenders from time to time party thereto (the “Lenders”) and Administrative Agent (as amended, the "Credit Facility").

The Third Amendment, among other things, extends the maturity date of the Credit Facility from March 11, 2027 to March 20, 2031 and increases the aggregate amount of revolving commitments from $75 million to $150 million.

Borrowings under the Credit Facility will bear interest at a rate equal to, at the Company’s option, either (i) a base rate plus an applicable margin of 0.00% to 1.25% per annum or (ii) Term SOFR plus an applicable margin of 1.00% to 2.25% per annum, in each case based on the Company’s Total Rent Adjusted Net Leverage Ratio (as defined in the Credit Facility).

The Credit Facility is unconditionally guaranteed by the Company’s domestic restricted subsidiaries other than certain excluded subsidiaries. Subject to certain exceptions, the Credit Facility is secured by a first-priority security interest in substantially all of the assets of the Company and the guarantors and a first-priority pledge of the capital stock of each subsidiary guarantor.

The Credit Facility includes customary representations and warranties, affirmative and negative covenants, including limitations on incurring additional indebtedness, the creation of liens, making dividend payments, payments of other indebtedness and investments, and entering into transactions with affiliates, and events of default. If an event of default occurs under the Credit Agreement, the Lenders may terminate the commitments, accelerate all outstanding loans (together with accrued interest, fees and other obligations) and require cash collateralization of outstanding letters of credit.

The above description of the terms of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

Item 2.03     Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information set forth under “Item 1.01. Entry into a Material Definitive Agreement” above is incorporated herein by reference.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.						Description
10.1						Amendment No. 3 to the Credit Agreement, dated as of March 20, 2026, by and among CAVA Group, Inc., the other loan parties thereto, the financial institutions listed on the signature pages thereto and JPMorgan Chase Bank, N.A.,as administrative agent.
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 registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 25, 2026						CAVA Group, Inc.
						By:			/s/ Tricia Tolivar
						Name:			Tricia Tolivar
						Title:			Chief Financial Officer

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 EX-10.1 2.4 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.0 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 23.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 14.3 KB