TLB

Sotera Health Announces Closing of $1.5 Billion Term Loan B and $750 Million Senior Secured Note Financings

Retrieved on: 
Giovedì, Maggio 30, 2024
Senior, SHC, TLB, Note, Security (finance)

The Company used the net proceeds from the Financings, along with cash on hand, to refinance its existing $1.76 billion Term Loan B and $496.3 million Term Loan B facilities.

Key Points: 
  • The Company used the net proceeds from the Financings, along with cash on hand, to refinance its existing $1.76 billion Term Loan B and $496.3 million Term Loan B facilities.
  • The TLB is required to be paid down at 1.00% of the aggregate principal amount ($15.1 million) per year, with the balance due in 2031.
  • The covenants applicable to the TLB are substantially the same as those in the Company’s existing First Lien Credit Agreement.
  • The Notes will be guaranteed by the Company and each of the other entities that guarantees the existing First Lien Credit Agreement.

EVERTEC Announces Successful Repricing of Existing Term Loan B

Retrieved on: 
Giovedì, Maggio 16, 2024
Technology, Payments, Finance, Fintech, Banking, Professional Services, Software, Data Analytics, Data Management, TLB

EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced that it has successfully repriced the outstanding $540 Term Loan B (TLB) due in 2030.

Key Points: 
  • EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced that it has successfully repriced the outstanding $540 Term Loan B (TLB) due in 2030.
  • The repricing is leverage neutral and reduces the interest rate margins applicable to the TLB to SOFR + 325 basis points, a reduction of 25 basis points from SOFR + 350 basis points.
  • No other terms were changed on the TLB.
  • “We are pleased with the strong market demand for our debt, which provided an opportunity to further improve our capital structure and cash flow profile and demonstrates our strong performance and strong credit profile,” stated Joaquin A. Castrillo-Salgado, Executive Vice-President and Chief Financial Officer.

Cimpress Successfully Completes Repricing of Term Loan B and Lowers its Cost of Capital

Retrieved on: 
Mercoledì, Maggio 15, 2024
Office Products, Marketing, Advertising, Communications, Professional Services, Online Retail, Retail, Business, Vistaprint, TLB, USD

Cimpress plc (Nasdaq: CMPR), the parent company of VistaPrint and other leading print mass customization businesses, today announced the successful repricing of its $773 million USD tranche of its senior secured Term Loan B (“TLB”).

Key Points: 
  • Cimpress plc (Nasdaq: CMPR), the parent company of VistaPrint and other leading print mass customization businesses, today announced the successful repricing of its $773 million USD tranche of its senior secured Term Loan B (“TLB”).
  • In addition, Cimpress upsized the USD TLB tranche by $264 million and used the proceeds to prepay the majority of its Euro TLB tranche.
  • Cimpress’ USD TLB tranche is now $1,037 million, and the Euro tranche is €46 million.
  • Cimpress executed a cross-currency swap concurrent with the upsizing and repricing of the USD TLB tranche in order to maintain the lower base rate and currency mix previously in place with the Euro TLB tranche.

Columbus McKinnon Announces Successful Completion of Term Loan B Repricing

Retrieved on: 
Martedì, Marzo 19, 2024
Supply Chain Management, Machinery, Machine Tools, Metalworking & Metallurgy, Electronic Commerce, Technology, Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Retail, Packaging, Engineering, Building Systems, Manufacturing, Adjustment, CMCO, Growth, TLB, Life insurance

Columbus McKinnon Corporation (Nasdaq: CMCO) (“Columbus McKinnon” or the “Company”), today announced that it successfully completed the repricing of its $497.6 million senior secured Term Loan B (“TLB”).

Key Points: 
  • Columbus McKinnon Corporation (Nasdaq: CMCO) (“Columbus McKinnon” or the “Company”), today announced that it successfully completed the repricing of its $497.6 million senior secured Term Loan B (“TLB”).
  • The Company estimates the TLB repricing will produce annualized cash interest expense savings of approximately $2.5 million.
  • "We are pleased to complete the repricing of our Term Loan B.
  • The repricing of our Term Loan B will result in lower interest expense in fiscal year 2025 and be accretive to earnings per share.”
    No other material changes were made to the terms and conditions of the TLB.

Mielle and The Lip Bar Join Forces To Create Limited-Edition Lipstick, Celebrating Women's History Month And Sisterhood

Retrieved on: 
Martedì, Marzo 5, 2024
Pigment, Women's History Month, Beauty Brands, Individual, Empowerment, TLB, Black, Lip, Beauty, Partnership, Cosmetics

MERRILLVILLE, Ind., March 5, 2024 /PRNewswire/ -- Today, in celebration of Women's History Month, Mielle, the number one haircare brand, and The Lip Bar (TLB), the award-winning inclusive beauty brand, have united to launch a limited-edition lipstick. The collaboration between these two influential Black women-founded and led brands emphasizes their commitment to uplifting all women and recognizing the power of sisterhood.

Key Points: 
  • The collaboration between these two influential Black women-founded and led brands emphasizes their commitment to uplifting all women and recognizing the power of sisterhood.
  • To celebrate Women's History Month, we are thrilled to partner with The Lip Bar, on this limited-edition lipstick to continue inspiring women on their journey," said Monique Rodriguez, CEO and Founder of Mielle.
  • This Women's History Month, we want to empower women to embrace their bold beauty unapologetically with Mielle Pink, an absolute showstopper," said Melissa Butler, CEO and Founder of The Lip Bar.
  • The limited-edition Mielle Pink Nonstop Liquid Matte Lipstick is available from March 3rd to May 18th, 2024, online and at select stores nationwide.

Andes Announces General Availability of the New RISC-V Out-Of-Order Superscalar Multicore Processor, the AndesCore™ AX65

Retrieved on: 
Giovedì, Gennaio 4, 2024
Cortex, Architecture, RISCV, TLB, SHA, Software, N25, AES, EE Times, DSP, Central processing unit, Andes Technology, CPU, IP, Network, Safety, OOO, SOC, Hertz

Hsinchu, Taiwan, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Andes Technology, a leading supplier of high efficiency, low-power 32/64-bit RISC-V processor cores and Founding Premier member of RISC-V International, today proudly announces general availability of the high-performance AndesCore™ AX65 out-of-order superscalar multicore processor IP.

Key Points: 
  • Hsinchu, Taiwan, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Andes Technology, a leading supplier of high efficiency, low-power 32/64-bit RISC-V processor cores and Founding Premier member of RISC-V International, today proudly announces general availability of the high-performance AndesCore™ AX65 out-of-order superscalar multicore processor IP.
  • Equipped with 13-stage pipeline, 4-wide decode, 8-wide out-of-order execution, AX65 targets the Linux application processor sockets of computing, networking, and high-end controllers.
  • Andes takes this opportunity to introduce the AX65 to complete its comprehensive CPU lineup, spanning from low-power embedded solutions to high-end Out-of-Order processors.
  • https://lnkd.in/gXwnXcCn It will include the newest AX65 high-performance, 13-stage pipeline, 4-wide decode, 8-wide out-of-order execution CPU IP core.

IQVIA Announces Upsizing of its Allocation of New Term B Loans

Retrieved on: 
Venerdì, Novembre 17, 2023
Data Analytics, Health, Data Management, Health Technology, Professional Services, Technology, Online Privacy, Security, Hilltop Holdings Inc., IQVIA, NYSE, IQV, TLB, Security (finance)

IQVIA Holdings Inc. (NYSE:IQV) (the “Company”) today announced that its wholly-owned subsidiary, IQVIA Inc. (the “Borrower”), allocated a new term B loan due 2031 of approximately $1,500 million (the “New Term Loan B”), which was upsized due to lender demand.

Key Points: 
  • IQVIA Holdings Inc. (NYSE:IQV) (the “Company”) today announced that its wholly-owned subsidiary, IQVIA Inc. (the “Borrower”), allocated a new term B loan due 2031 of approximately $1,500 million (the “New Term Loan B”), which was upsized due to lender demand.
  • The proceeds from the New Term Loan B, together with the proceeds from the Borrower’s offering of $1,250 million in aggregate principal amount of senior secured notes due 2029 (the “Notes”), are expected to be used to repay the outstanding Euro-denominated term B loan (“TLB”) due in March 2024, the U.S.-denominated TLB due in January 2025 and the U.S.-denominated TLB due in June 2025 under the Borrower’s senior secured credit facilities, and to pay fees and expenses related to the Borrower’s Notes offering and the Borrower’s credit agreement amendment in respect of the New Term Loan B.
  • In connection with the allocation of the New Term Loan B, the Company entered into a cross-currency swap agreement which will effectively convert the New Term Loan B, upon the closing of such facility, into a euro-denominated borrowing at prevailing euro interest rates to hedge exposure to USD-denominated indebtedness created by the New Term Loan B.
  • The effective net borrowing rate to the Company will be 4.9015%, inclusive of the yield on the New Term Loan B and the beneficial impact of the cross-currency swap.

DXP Enterprises, Inc. Refinances Existing Debt and Raises an Incremental $125M to Drive Acquisition Growth

Retrieved on: 
Lunedì, Ottobre 16, 2023
Other Manufacturing, Other Retail, Chemicals, Plastics, Logistics, Supply Chain Management, Manufacturing, Other Construction & Property, Food, Beverage, Commercial Building & Real Estate, Construction & Property, Retail, Other Energy, Other Transport, Oil, Gas, Energy, Transport, Other Natural Resources, Mining, Minerals, Forest Products, Agriculture, Natural Resources, Yee, Senior, Term, Acquisition, TLB, Term loan, EBITDA, Securities and Exchange Commission of Pakistan, Growth, DXPE, DXP, Security (finance), Bank

Including the new borrowings, DXP will have $550.0 million in Senior Secured Term Loan B borrowings.

Key Points: 
  • Including the new borrowings, DXP will have $550.0 million in Senior Secured Term Loan B borrowings.
  • The TLB borrowings mature on October 30, 2030, and are priced at Term SOFR plus an applicable margin of 4.75 percent.
  • The transaction provides DXP with operational and financial flexibility to reinvest in the business and pursue its organic and targeted acquisition growth strategy.
  • This financing will support us in executing our strategy and funding both working capital, acquisition growth and reinvesting in the business.

IMTT Announces Issuance of Inaugural Sustainability-Linked Term Loan

Retrieved on: 
Martedì, Ottobre 10, 2023
Professional Services, Oil, Gas, Sustainability, Energy, Environment, Trucking, Rail, Maritime, Chemicals, Plastics, Transport, Finance, Environmental, Social and Governance (ESG), Manufacturing, Great Lakes, ESG, TLB, Great Lakes region, Carbon, Cleaner, Macquarie Infrastructure Corporation, Renewable energy, Framework

International-Matex Tank Terminals (“IMTT” or the “Company”), an industry leader in the handling and storage of bulk liquid products, especially energy transition fuels, feedstocks and petrochemicals, announced today that ITT Holdings LLC has successfully issued its inaugural Sustainability-linked Term Loan B (“TLB”) under its recently developed Sustainability-linked Issuance Framework (the “Framework”).

Key Points: 
  • International-Matex Tank Terminals (“IMTT” or the “Company”), an industry leader in the handling and storage of bulk liquid products, especially energy transition fuels, feedstocks and petrochemicals, announced today that ITT Holdings LLC has successfully issued its inaugural Sustainability-linked Term Loan B (“TLB”) under its recently developed Sustainability-linked Issuance Framework (the “Framework”).
  • This issuance is further to IMTT’s Sustainability-linked loan issued in July 2023 and represents continued alignment of the company’s financing to its sustainability strategy.
  • IMTT is focused on providing safe and reliable service while delivering innovative solutions for the evolving energy needs of its customers.
  • In addition to expanding its independent liquid terminals business, IMTT is committed to pursuing low carbon intensity growth opportunities and reducing carbon emissions across its existing asset base.

Casa Systems Announces Successful Completion of Previously Announced Refinancing and Extension Transaction for its Term Loan B Senior Secured Debt

Retrieved on: 
Giovedì, Giugno 15, 2023
CASA, Interim, Operations Enhance and Enhance Plus, Additional funds needed, Failure, COVID-19, Risk, Simpson Thacher & Bartlett, EBITDA, Acquisition, Annual report, Creditor, Sidley, Growth, Chase Bank, Security (finance), Environment, TLB, Economics, Bank

Remaining 2.2% ($5.0 million) of the Company’s existing Term Loan B expected to be paid at maturity in December 2023.

Key Points: 
  • Remaining 2.2% ($5.0 million) of the Company’s existing Term Loan B expected to be paid at maturity in December 2023.
  • “We are delighted with the successful refinancing and formal closing of our Term Loan B debt facility that was originally scheduled to mature in December 2023,” said Edward Durkin, Casa Systems’ Chief Financial Officer and Interim Chief Executive Officer.
  • “We believe the approximate 98% participation by Lenders is validation of our strong business fundamentals and future plans.
  • Sidley Austin LLP and Goodwin Procter LLP are serving as legal counsel to the Company in connection with the Refinancing Transaction.