Item 1.01. Entry into a Material Definitive Agreement.




On March 16, 2020, TrueBlue, Inc. (the "company") entered into an amendment of
its Revolving Credit Facility (the "Amendment"). The original Revolving Credit
Facility was entered into on July 13, 2018 and the company timely filed a
related 8-K Current Report, which may be found on the company's website. The
Amendment was entered into with Bank of America, N.A. as administrative agent,
BofA Securities, Inc., PNC Capital Markets LLC and Wells Fargo Securities, LLC,
as joint lead arrangers and joint bookrunners, and Wells Fargo Bank, N.A., PNC
Bank, N.A., KeyBank, N.A., and HSBC Bank USA, N. A. as co-agents, and the
lenders.

Pursuant to the Amendment, the company and the lenders agreed to modify certain
provisions of the Revolving Credit Facility. In particular, the Maturity Date of
the Revolving Credit Facility was extended from July 13 of 2023 to March 16 of
2025 and the parties agreed to replace the previous provision for a LIBOR
Successor Rate with a new provision that provides for a LIBOR Successor Rate
that is one or more secured overnight financing rates or another alternate
benchmark rate subject to certain conditions.

The Revolving Credit Facility as amended continues to provide a revolving line of credit of up to $300 million, and also includes the following:



• Accordion. The Revolving Credit Facility contains an accordion feature which,
subject to lender approval, provides the company with the option to increase the
total amount of the facility up to $450 million.

• Loan fees and interest. Under the terms of the Revolving Credit Facility, the
company pays a variable rate of interest on the outstanding principal balance, a
fee on outstanding letters-of-credit and a commitment fee. These rates are based
on LIBOR or the base rate (highest of (a) Federal Funds Rate plus 0.50%, (b)
Bank of American prime rate and (c) LIBOR plus 1.0%), plus an applicable spread,
as set forth below:

   Consolidated leverage ratio          Base rate loans             Eurodollar loans            Letters of credit             Commitment fee
< 1.00:1                                     0.25%                       1.25%                        1.00%                       0.250%
? 1.00:1 but < 1.50:1                        0.50%                       1.50%                        1.25%                       0.275%
? 1.50:1 but < 2.00:1                        0.75%                       1.75%                        1.50%                       0.300%
? 2.00:1 but < 2.50:1                        1.00%                       2.00%                        1.75%                       0.325%
? 2.50:1 but < 3.00:1                        1.25%                       2.25%                        2.00%                       0.350%
? 3.00: 1                                    1.50%                       2.50%                        2.25%                       0.375%



Under the terms of the Revolving Credit Facility, letters-of-credit also include
a fronting fee of 0.50%.
• Collateral. Obligations under the Revolving Credit Facility are secured by
certain collateral of the company and its domestic subsidiaries.
• Covenants. The Revolving Credit Facility contains customary representations
and warranties, events of default, and affirmative and negative covenants,
including, among others, financial covenants based on the company's leverage and
fixed charge coverage ratios.
This description of the Revolving Credit Facility and the Amendment does not
purport to be complete, and is subject to and qualified in its entirety by
reference to the full text of the credit agreement, which is attached as Exhibit
10.1 to this Form 8-K, and is incorporated by reference herein.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance


                 Sheet Arrangement of a Registrant.


To the extent required by Item 2.03 of Form 8-K, the information contained or
incorporated in Item 1.01 of this Form 8-K with respect to the Revolving Credit
Facility as amended is incorporated by reference in this Item 2.03.


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Item 9.01.     Financial Statements and Exhibits.


(d)Exhibits

   Exhibit
   Number                                Exhibit Description                               Filed Herewith
    10.1        First Amendment to Credit agreement dated as of March 16, 2020 by and            X
              among Bank of America, N.A., Wells Fargo Bank, N.A., PNC

Bank, National

Association, Key Bank, HSBC and TrueBlue, Inc.

104 Cover page interactive data file - The cover page from this Current Report X


              on Form 8-K is formatted as Inline XBRL

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