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Long-Term Debt | 3 Months Ended
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Sep. 28, 2025
Debt Disclosure [Abstract] |
Long-Term Debt | 5. Long-Term Debt Debt Obligations The following table and narrative presents the detail of UNIFI’s debt obl igations. Capitalized terms not otherwise defined within this Note shall have the meanings attributed to them in the Second Amended and Restated Credit Agreement, dated as of October 28, 2022 (the “2022 Credit Agreement”) as amended.
|  |  |  | Weighted Average |  |  |
|  | Scheduled |  | Interest Rate as of |  | Principal Amounts as of |
|  | Maturity Date |  | September 28, 2025 |  | September 28, 2025 |  |  | June 29, 2025 |
ABL Revolver |  | October 2027 |  |  | 7.0 | % |  |  | $ | 22,600 |  |  | $ | 11,000 |
2024 Facility |  | October 2027 |  |  | 5.0 | % |  |  |  | 22,000 |  |  |  | 22,000 |
ABL Term Loan |  | October 2027 |  |  | 6.4 | % |  |  |  | 64,700 |  |  |  | 67,000 |
Finance lease obligations |  | (1) |  |  | 4.8 | % |  |  |  | 11,045 |  |  |  | 8,008 |
Total debt |  |  |  |  |  |  |  |  | 120,345 |  |  |  | 108,008 |
Current portion of ABL Term Loan |  |  |  |  |  |  |  |  | (9,200 | ) |  |  | (9,200 | )
Current portion of finance lease obligations |  |  |  |  |  |  |  |  | (3,520 | ) |  |  | (2,959 | )
Unamortized debt issuance costs |  |  |  |  |  |  |  |  | (109 | ) |  |  | (122 | )
Total long-term debt |  |  |  |  |  |  |  | $ | 107,516 |  |  | $ | 95,727 |
(1) Scheduled maturity dates for finance lease obligations range from November 2026 to October 2032. ABL Facility and Amendments On September 5, 2024, UNIFI, Inc. and certain of its subsidiaries entered into a First Amendment to the 2022 Credit Agreement (the “First Amendment”) with a syndicate of lenders. The First Amendment primarily (i) permits the sale of a Company-owned real estate asset (consisting of an industrial warehouse building and land acreage) located in Yadkinville, North Carolina with application of the net proceeds to reduce the outstanding ABL Revolver balance, in lieu of the prescribed mandatory prepayment to the ABL Term Loan; (ii) reduces the Maximum Revolver Amount from $115,000 to $80,000; (iii) modifies the definition of the Trigger Level as of any date of determination to the greater of (a) $16,500 and (b) 10% of the sum of (i) the Maximum Revolver Amount plus (ii) the outstanding principal amount of the ABL Term Loan on such date of determination; (iv) increases the range of the Applicable Margin on (a) SOFR-based loans to a new range of 1.50% to 2.00% and (b) Base Rate-based loans to a new range of 0.50% to 1.00%, with such new ranges of Applicable Margin rates becoming immediately effective and continuing until the Company achieves a Fixed Charge Coverage Ratio of 1.05 to 1.00 or better; (v) for a Term Loan Reset, establishes an additional requirement to obtain lender approval; and (vi) modifies certain terms and conditions of the 2022 Credit Agreement including, but not limited to, Swing Loans, Letter of Credit sublimits, and costs related to normal course collateral valuations for the ABL Facility. On October 25, 2024, UNIFI entered into a new credit agreement with Wells Fargo Bank, National Association for a $25,000 revolving credit facility (the “2024 Facility”). The maturity date of the 2024 Facility is the earlier of (i) October 28, 2027 and (ii) the termination or refinancing of the 2022 Credit Agreement. The 2024 Facility is deemed unsecured financing for UNIFI, but is collateralized by certain assets pledged by related party Kenneth G. Langone, one of the members of UNIFI's Board of Directors. Borrowings under the 2024 Facility bear interest at a rate of SOFR plus 0.90%. The 2024 Facility contains no additional financial covenants beyond those already in effect for the 2022 Credit Agreement and is subject to a monthly unused line fee of 0.25% on available borrowing capacity. On January 2, 2025, UNIFI borrowed $22,000 against the 2024 Facility and used the proceeds to reduce the outstanding ABL Revolver balance. There was no impact to debt principal from these transactions. On April 10, 2025, UNIFI entered into a Second Amendment to the 2022 Credit Agreement (the “Second Amendment”). The Second Amendment primarily (i) permits the Company to enter into the purchase agreement related to, and consummate the sale of, the Madison, North Carolina property, (ii) permits the Company to allocate a portion of the net proceeds from the sale to repay outstanding revolving loans under the 2022 Credit Agreement, after the application of the greater of $25,000 or 50% of such net proceeds toward outstanding term loans, and (iii) requires the consent of all lenders, rather than the Required Lenders (as defined in the 2022 Credit Agreement), in order to reset the maximum amount of the term loans available under the 2022 Credit Agreement.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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