TIC Solutions Reprices $1.6 Billion First Lien Term Loan
MT Newswires Live
Jun 01
TIC Solutions (TIC) said Monday that it has repriced an approximately $1.6 billion first lien term loan at Secured Overnight Financing Rate plus 250 basis points.
The company said the repricing represents a 25-basis-point reduction in the applicable margin. The term loan has a maturity date of July 30, 2031, while the other material provisions under the credit agreement were unchanged.
"This repricing is expected to reduce annual cash interest expense by approximately $4 million and enhances our financial flexibility," Chief Financial Officer Kristin Schultes said in a statement.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.