Term loan | Jotup

EQS-News: SYNLAB delivers robust performance in FY 2023

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수요일, 4월 10, 2024

Synnovis, the South East London hospital outsourcing contract grew 12.2% in 2023 and contributed 0.6pts to the overall 2023 underlying organic growth.

Key Points:

Synnovis, the South East London hospital outsourcing contract grew 12.2% in 2023 and contributed 0.6pts to the overall 2023 underlying organic growth.
FY 2023 adjusted EBITDA (AEBITDA) was €438 million (FY 2022: €753 million) while adjusted operating profit (AOP) was €194 million (FY 2022: €508 million) with margins of 16.6% (FY 2022: 23.2%) and 7.4% (FY 2022: 15.6%), respectively.
In FY 2023, adjusted net profit (Group share) was €44 million (FY 2022: €342 million), mainly due to lower COVID-19 testing volumes and higher net finance costs.
FY 2023 unlevered free cash flow (uFCF) was €74 million (FY 2022: €312 million).

TeraWulf Announces Continued Industry-Leading Cash Production and $30 Million Debt Repayment

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월요일, 4월 8, 2024

Bitcoin, Term loan, Economics, Cryptocurrency

EASTON, Md., April 08, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic Bitcoin mining facilities powered by more than 95% zero-carbon energy, today announced it has repaid an additional $30.1 million of its Term Loan, thereby reducing the debt balance to $75.9 million.

Key Points:

EASTON, Md., April 08, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic Bitcoin mining facilities powered by more than 95% zero-carbon energy, today announced it has repaid an additional $30.1 million of its Term Loan, thereby reducing the debt balance to $75.9 million.
Patrick Fleury, Chief Financial Officer, remarked, “This $30 million payment follows our repayment of approximately $40 million over the past six months.
Fleury also stated, “At today's approximate $70,000 bitcoin price, we expect our industry leading economics, resulting in a fully loaded cost to mine a bitcoin of just $37,000 post halving, to allow for continued rapid debt extinguishment.
All of the inputs used to determine our cost to mine a bitcoin can be found on our recently updated cost-to-mine calculator on our website.

MESA LABS ANNOUNCES AMENDMENT TO CREDIT FACILITY AND REPURCHASE OF SENIOR CONVERTIBLE NOTES

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월요일, 4월 8, 2024

GKE, BANK, MLAB, Line of credit, Acquisition, Credit, Note, Depreciation, Revolver, Term loan, Debt-to-GDP ratio, Bank

The Credit Agreement includes a $75 million senior secured term loan facility (the “Term Loan”) and a $125 million senior secured revolving credit facility (the “Revolver”), both of which mature in April 2029.

Key Points:

The Credit Agreement includes a $75 million senior secured term loan facility (the “Term Loan”) and a $125 million senior secured revolving credit facility (the “Revolver”), both of which mature in April 2029.
The Credit Agreement includes a ten-year amortization schedule and no springing maturity relating to the Company’s 1.375% Convertible Senior Notes due August 2025 (the “2025 Notes”).
Proceeds from the Term Loan and Revolver will be used to pay down the Company’s 2025 Notes and for normal operating expenditures.
Additionally, Mesa has entered into separate, privately negotiated transactions with certain holders of the 2025 Notes to repurchase $75 million aggregate principal amount of the 2025 Notes for an aggregate repurchase price in cash of $71.25 million.

Par Pacific Announces Expected Term Loan Repricing

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목요일, 3월 28, 2024

Term loan, S&P, Par Pacific Holdings, Documentation, Term

HOUSTON, March 28, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced it expects to reprice and allocate its existing term loan credit agreement due 2030 (the “Term Loan Facility”).

Key Points:

HOUSTON, March 28, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced it expects to reprice and allocate its existing term loan credit agreement due 2030 (the “Term Loan Facility”).
In addition, the amendment will eliminate the Term SOFR Adjustment of 10 basis points with respect to loans under the Term Loan Facility.
The amendment provides that if Par Pacific receives a further ratings upgrade from S&P, the annual interest rates under the Term Loan Facility will be reduced by an additional 0.25%.
“Our strong operating performance and record financial results over the past year have enabled us to reprice our term loan facility on improved terms,” said Shawn Flores, Chief Financial Officer of Par Pacific.

Hillman Successfully Reprices Senior Term Loan Lowering Interest Expense

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화요일, 3월 26, 2024

S&P, Term loan, Fitch, Credit

CINCINNATI, March 26, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. ( Nasdaq: HLMN ) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, successfully repriced its existing $752 million Term Loan due July 14, 2028.

Key Points:

CINCINNATI, March 26, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. ( Nasdaq: HLMN ) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, successfully repriced its existing $752 million Term Loan due July 14, 2028.
The repricing reduces Hillman’s interest rate margin by 25 basis points to SOFR + 250 basis point and successfully removes the Credit Spread Adjustment (“CSA”) of 11 basis points, based on current leverage and elections.
The expected annualized interest savings are approximately $2.6 million, before one-time fees of approximately $1.4 million.
During December 2023, Hillman entered into new swap agreements fixing $360 million of the term note at approximately 3.69 percent plus the interest rate spread.

Hilton Grand Vacations Successfully Reprices Term Loan B

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월요일, 4월 8, 2024

Hilton Grand Vacations Inc. (NYSE:HGV) announces today the successful re-pricing of its existing $1.3 billion Term Loan B, maturing Aug. 2, 2028.

Key Points:

Hilton Grand Vacations Inc. (NYSE:HGV) announces today the successful re-pricing of its existing $1.3 billion Term Loan B, maturing Aug. 2, 2028.
The new pricing will be SOFR plus 250 basis points, down from SOFR plus 275 basis points.
Additionally, the credit spread adjustment for the Term Loan B has been removed.
“We’re pleased with the solid execution, lowering our pricing by 25 basis points and removing the credit spread adjustment,” said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations.

Cushman & Wakefield Successfully Completes Term Loan Repricing; Prepays $50 million of Total Debt Outstanding

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화요일, 4월 9, 2024

Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Cushman & Wakefield, Term loan, Term, CWK

Cushman & Wakefield (NYSE: CWK) today announced that it has successfully completed a repricing of $1.0 billion of its Term Loan (“Term Loan”) due 2030.

Key Points:

Cushman & Wakefield (NYSE: CWK) today announced that it has successfully completed a repricing of $1.0 billion of its Term Loan (“Term Loan”) due 2030.
The repricing reduces the applicable interest rate on the $1.0 billion of Term Loan issued in August 2023 by 25bps from Term SOFR plus 4.00% to Term SOFR plus 3.75%.
There are no changes to the maturity of the Term Loan following this repricing and all other terms are substantially unchanged.
Additionally, the Company announced that during the first quarter it elected to prepay $50 million of its Term Loan due 2025.

EPIC Y-Grade Completes Issuance of New $1,075 Million Senior Secured Term Loan B

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월요일, 4월 8, 2024

Finance, Other Energy, Utilities, Banking, Oil, Gas, Professional Services, Energy, Mining, Minerals, Natural Resources, Term loan, S&P, EPIC, B3

EPIC Y-Grade, LP (“EPIC” or “the Company”) today announced that it has completed the issuance of a new $1,075 million senior secured Term Loan B due 2029.

Key Points:

EPIC Y-Grade, LP (“EPIC” or “the Company”) today announced that it has completed the issuance of a new $1,075 million senior secured Term Loan B due 2029.
The Company used the net proceeds from the Term Loan to repay its existing $989 million Term Loan B due 2027 and repay its existing $77 million facility on a standalone propane line.
As part of the transaction, the Company also increased its current super-priority revolving credit facility to $70 million from $40 million and extended the facility’s maturity date to 2029.
We’re pleased that companies are continuing to expand their y-grade positions in Corpus Christi with EPIC Midstream.”

W&T Offshore Announces Liquidity-Enhancing Modifications to the Non-Recourse Term Loan with Munich Re

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월요일, 3월 18, 2024

Loan, Munich Re, Date, Credit, Finance Secretary (India), Term loan

HOUSTON, March 18, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced modifications to the first-lien non-recourse term loan (the “Term Loan”) between its wholly-owned special purpose vehicles (the “SPVs”) and Munich Re Reserve Risk Financing, Inc. ("MRRF"), which is expected to provide additional liquidity to the Company over 2024 without increasing the Company’s net leverage.

Key Points:

HOUSTON, March 18, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced modifications to the first-lien non-recourse term loan (the “Term Loan”) between its wholly-owned special purpose vehicles (the “SPVs”) and Munich Re Reserve Risk Financing, Inc. ("MRRF"), which is expected to provide additional liquidity to the Company over 2024 without increasing the Company’s net leverage.
The Term Loan was initially arranged on May 19, 2021 (“Closing Date”) and had a principal balance of $215 million which has been amortized down to around $114 million as of December 31, 2023.
There have been a few alterations to the Credit Agreement signed by the SPVs and MRRF on May 19, 2021 (the “Original Credit Agreement”).
Through its 100% ownership in the SPVs, W&T retains the upside value in the Mobile Bay Assets.

Navigator Gas Fourth Quarter and Full Year 2023 Results

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수요일, 3월 13, 2024

Utilization across the fleet decreased from 93.4% in the third quarter of 2023 to 91.3% in the fourth quarter of 2023.

Key Points:

Utilization across the fleet decreased from 93.4% in the third quarter of 2023 to 91.3% in the fourth quarter of 2023.
The Ethylene Export Terminal throughput during the fourth quarter of 2023 was 208,495 metric tons, compared to 262,835 metric tons during the fourth quarter of 2022.
Of the expected total of $130 million, $35.0 million has been contributed as of December 31, 2023, $17.0 million of which was contributed during the fourth quarter of 2023.
E.D.T., the Company’s management team will host a Zoom conference call and slide presentation to discuss the financial results for the fourth quarter of 2023.