SelectQuote, Inc. 8-K

What Happened SelectQuote, Inc. announced on an 8-K that it entered into a new credit agreement on January 8, 2026 providing a $325 million senior secured term loan and a $90 million senior secured revolving credit facility (total $415M). About $313.8 million of the term loan proceeds were used at closing to repay the company’s prior credit agreement; the remainder will support working capital and general corporate purposes. The company furnished a press release and investor presentation on January 12, 2026 describing the transactions.

Key Details

• New facilities: $325.0M term loan and $90.0M revolver (total $415M).
• Use of proceeds: ~$313.8M repaid the prior credit facility; remaining term loan proceeds for working capital/general purposes.
• Interest and amortization: Term loan — SOFR (floor 3.00%) + 6.50% or base rate + 5.50%; Revolver — SOFR (floor 3.00%) + 4.00% or base rate + 3.00%. Term loan amortizes quarterly at 0.625% of initial principal until June 30, 2027, then 1.25% thereafter.
• Security and covenants: Obligations are guaranteed by certain subsidiaries and secured by substantially all assets (subject to exceptions). The agreement includes customary affirmative/negative covenants and requires maintenance of a minimum fixed charge coverage ratio and minimum liquidity. There are mandatory prepayment provisions tied to a borrowing base based on certain receivables.

Why It Matters This is a refinancing and liquidity action: SelectQuote replaced its prior credit facility with a new senior secured package that defines the company’s near‑term borrowing costs, repayment schedule and financial covenants. Investors should note the interest spread and SOFR floor, the required amortization schedule, and covenant requirements — all of which affect cash interest expense, debt service priorities (secured/guaranteed status), and corporate flexibility. The company filed the credit agreement as Exhibit 10.1 and issued a press release and investor presentation on January 12, 2026 with additional details.