Pactiv Evergreen Inc. Successfully Reprices and Upsizes Term Loan [Yahoo! Finance]
Pactiv Evergreen Inc. - Common stock (PTVE)
Company Research
Source: Yahoo! Finance
the Company successfully completed the repricing and upsizing of its $990 million senior secured Term Loan B due September 24, 2028 (the “B-4 Term Loans”) and the subsequent prepayment of its $690 million senior secured Term Loan B due February 4, 2026 (the “B-2 Term Loans”). This transaction reduced the interest rate margin applicable to the B-4 Term Loans by 75 basis points, from 3.25% to 2.50%, and removed the 11 basis point credit spread adjustment from the pricing structure of the B-4 Term Loans. In addition, the B-4 Term Loans were upsized, at par, by $340 million, increasing the principal balance to $1.33 billion. The proceeds of the B-4 Term Loans, together with the proceeds of a $350 million draw upon the Company's revolving credit facility, were used to prepay in full the B-2 Term Loans. Collectively, the repricing and prepayment reduce the Company's annualized cash interest expense by approximately $14 million. Jon Baksht, Chief Financial Officer of Pactiv Evergreen, sa
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PTVE
Earnings
- 5/2/24 - Beat
PTVE
Sec Filings
- 6/25/24 - Form 4
- 6/7/24 - Form 8-K
- 6/6/24 - Form 4
- PTVE's page on the SEC website