Havertys (NYSE: HVT) boosts credit facility to $100M through 2031
Rhea-AI Filing Summary
Haverty Furniture Companies, Inc. entered into a sixth amendment to its Amended and Restated Credit Agreement with Truist Bank, updating its senior secured asset-based revolving credit facility. The amendment extends the facility’s maturity to June 29, 2031 and increases total revolving loan commitments from $80,000,000 to $100,000,000.
The swingline sublimit under the revolving credit facility was also increased from $5,000,000 to $10,000,000, along with other technical modifications to the agreement. The facility remains secured by inventory, accounts receivable, cash and certain other personal property of the company and its credit services subsidiary.
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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, and exhibit attachments filed with this report.
Key Figures
Revolving loan commitments (before): $80,000,000
Revolving loan commitments (after): $100,000,000
Swingline sublimit (before): $5,000,000
+2 more
5 metrics
Revolving loan commitments (before)
$80,000,000
Aggregate revolving loan commitments prior to sixth amendment
Revolving loan commitments (after)
$100,000,000
Aggregate revolving loan commitments under sixth amendment
Swingline sublimit (before)
$5,000,000
Swingline sublimit under revolving credit facility before amendment
Swingline sublimit (after)
$10,000,000
Swingline sublimit under revolving credit facility after amendment
Maturity date
June 29, 2031
Extended maturity of senior secured asset-based revolving credit facility
Key Terms
Amended and Restated Credit Agreement, Revolving Credit Facility, asset-based revolving credit facility, swingline sublimit, +1 more
5 terms
Amended and Restated Credit Agreement financial
"amending that certain Amended and Restated Credit Agreement dated September 21, 2011"
An amended and restated credit agreement is a company’s original loan contract that has been updated and replaced by a single new document incorporating all changes. Think of it like refinancing and rewriting a mortgage so new payment schedules, interest rates, borrowing limits, or borrower obligations are combined into one clear contract. Investors care because those new terms change a company’s cash flow, borrowing flexibility and default risk, which can affect creditworthiness and share value.
Revolving Credit Facility financial
"provides for a senior secured asset-based revolving credit facility (the “Revolving Credit Facility”)"
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
asset-based revolving credit facility financial
"provides for a senior secured asset-based revolving credit facility (the “Revolving Credit Facility”)"
A loan arrangement where a lender agrees to make funds available up to a set limit that a borrower can draw, repay, and draw again, with the amount available tied to the value of specific assets (like inventory, receivables, or equipment) pledged as collateral. It matters to investors because it provides flexible working capital while limiting risk exposure: the company can fund growth or cover shortfalls quickly, but borrowing capacity can shrink if asset values fall.
swingline sublimit financial
"increased the swingline sublimit under the Revolving Credit Facility from $5,000,000 to $10,000,000"
A swingline sublimit is a reserved portion of a larger revolving loan that lets a borrower take very short-term, typically small, advances quickly for immediate cash needs—think of it as an emergency overdraft within a broader credit line. Investors care because the size and availability of the swingline sublimit indicate how easily a company can handle sudden cash shortfalls without tapping longer‑term debt, which affects short‑term liquidity risk and the likelihood of covenant breaches.
Creation of a Direct Financial Obligation financial
"Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What credit agreement change did Havertys (HVT) disclose in this 8-K?
Havertys entered a sixth amendment to its Amended and Restated Credit Agreement with Truist Bank. The amendment extends the senior secured asset-based revolving credit facility and updates key terms, including the maturity date, total commitments, and the swingline sublimit.
How large is Havertys’ revised revolving credit facility after the amendment?
The amendment increases total revolving loan commitments from $80,000,000 to $100,000,000. This higher commitment level applies to Havertys’ senior secured asset-based revolving credit facility, which is backed by inventory, accounts receivable, cash and certain other personal property of the company and its subsidiary.
When does Havertys’ amended revolving credit facility now mature?
The revolving credit facility’s maturity date was extended to June 29, 2031. This longer term applies under the sixth amendment to the Amended and Restated Credit Agreement among Haverty Furniture Companies, its credit services subsidiary, the lenders party to it, and Truist Bank.
What collateral secures Havertys’ revolving credit facility?
The senior secured asset-based revolving credit facility is secured by inventory, accounts receivable, cash and certain other personal property of Haverty Furniture Companies and Havertys Credit Services. These assets support availability under the borrowing base and back the obligations owed to the lending group and Truist Bank.
How did the swingline sublimit change in Havertys’ amended credit facility?
The swingline sublimit under the revolving credit facility increased from $5,000,000 to $10,000,000. This higher sublimit allows for a larger portion of short-term swingline borrowings within the overall $100,000,000 senior secured asset-based revolving credit facility described in the amendment.
Which parties are involved in Havertys’ amended credit agreement?
The amended credit agreement is among Haverty Furniture Companies, Havertys Credit Services, the lenders from time to time party to the agreement, and Truist Bank. Truist Bank serves as Issuing Bank and Administrative Agent under the senior secured asset-based revolving credit facility structure.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement
On June 29, 2026, Haverty Furniture Companies, Inc. (the “Company”) and its wholly owned subsidiary Havertys Credit Services, Inc. (“HCS”) entered into a sixth Amendment to the Amended and Restated Credit Agreement (the “Sixth Amendment”), amending that certain Amended and Restated Credit Agreement dated September 21, 2011 (as amended by that certain First Amendment to Amended and Restated Credit Agreement dated March 31, 2016, the Second Amendment dated September 27, 2019, the Third Amendment dated May 15, 2020, the Fourth Amendment dated October 24, 2022, the Fifth Amendment dated July 22, 2025, and the Sixth Amendment, the “Amended Credit Agreement”), by and among the Company, HCS, the lenders from time to time party thereto, and Truist Bank, as Issuing Bank and Administrative Agent.
The Amended Credit Agreement provides for a senior secured asset-based revolving credit facility (the “Revolving Credit Facility”), secured by inventory, accounts receivable, cash and certain other personal property of the Company and HCS. Availability under the Revolving Credit Facility fluctuates under a borrowing base calculation and is reduced by outstanding letters of credit.
Pursuant to Sixth Amendment, the parties to the Amended Credit Agreement (i) extended the maturity date of the Revolving Credit Facility to June 29, 2031, (ii) increased the aggregate Revolving Loan Commitments from $80,000,000 to $100,000,000, (iii) increased the swingline sublimit under the Revolving Credit Facility from $5,000,000 to $10,000,000 and (iv) made certain other modifications to the terms with respect thereto.
The foregoing description of the Sixth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Sixth Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this Current Report on Form 8-K is also incorporated by reference into this Item 2.03 of this Current Report on Form 8-K.
Item 9.01 - Financial Statements and Exhibits
(d): Exhibits. The following exhibits are being filed herewith:
Exhibit No. | Description | |||||||
10.1 | Sixth Amendment to Amended and Restated Credit Agreement, dated as of June 29, 2026, by and among Haverty Furniture Companies, Inc., Havertys Credit Services, Inc. and Truist Bank | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 2nd day of July, 2026.
HAVERTY FURNITURE COMPANIES, INC. | |||||
By: | /s/ Brendan P. McGill | ||||
Name: | Brendan P. McGill | ||||
Title: | Senior Vice President, General Counsel and Corporate Secretary | ||||