BellRing Brands Announces Repricing of $636 Million Term Loan
ST. LOUIS, Feb. 26, 2021 (GLOBE NEWSWIRE) -- BellRing Brands, Inc. (NYSE:BRBR) (the Company) today announced that its subsidiary, BellRing Brands, LLC (BellRing LLC), completed an opportunistic repricing of its existing $636.2 million term loan through an amendment to its credit agreement.
- ST. LOUIS, Feb. 26, 2021 (GLOBE NEWSWIRE) -- BellRing Brands, Inc. (NYSE:BRBR) (the Company) today announced that its subsidiary, BellRing Brands, LLC (BellRing LLC), completed an opportunistic repricing of its existing $636.2 million term loan through an amendment to its credit agreement.
- The amendment refinances BellRing LLCs term loan to reduce the interest rate on the term loan by 100 basis points (1.00%) to the Eurodollar Rate plus 4.00% or the Base Rate plus 3.00%, and also reduces the floor for the Eurodollar Rate for BellRing LLCs term loan from 1.00% to 0.75%.
- The repricing is expected to reduce annual cash interest by approximately $8 million.
- The term loan maturity date of October 21, 2024 and all other material provisions under the credit agreement remain unchanged.