TrueBlue Signs Credit Agreement Amendment With Bank of America and Co-Lenders

TrueBlue entered into a Second Amendment to its Amended and Restated Credit Agreement to convert its revolving credit facility into an asset-based lending structure. The amendment establishes a borrowing base tied to eligible accounts and unbilled accounts, and reduces the revolver size to $175 million while preserving an option to increase by $150 million subject to lender approval. Pricing, sub-limits, and the maturity date remain unchanged, with a minimum excess availability covenant and a potential springing fixed charge coverage ratio. The company expects the change to improve liquidity alignment and financial flexibility.

Agreement details:

• Agreement type: Amendment converting revolving credit facility to asset-based lending facility
• Counterparty: Bank of America, as Administrative Agent, and co-lenders Wells Fargo, PNC Bank, KeyBank, and HSBC
• Signed / Effective: Jan 30 2026 / same
• Duration / Termination: N/A
• Reason: Optimize liquidity and covenant flexibility via asset-based structure

Original SEC Filing: TrueBlue, Inc. [ TBI ] - 8-K - Feb. 03, 2026