Blue Apron amends senior secured notes due in 2027

Chicago, Aug. 30 – Blue Apron Holdings, Inc. amended the terms of the $30 million of senior secured notes due in 2027 that the company issued on May 5, according to a press release.

The notes are now callable with a make-whole payment within 18 months of their issue date.

Additionally, the company is now allowed to use up to $25 million of cash for potential future share repurchases, including the closing of $50 million in equity financing the company expects this week.

The new amendments also add certain limitations to the definition of cash flow forecast.

In May, the company entered into a $30 million note purchase agreement with Allianz Global Investors.

The notes have a starting interest rate of 8 7/8%.

Blue Apron is a home cooking company based in New York.

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