Magnite Announces Pricing and Syndication of New Term Loan B and Revolver
LOS ANGELES, April 05, 2021 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI) today announced that it has reached agreement in principle on pricing and syndication for a 7-year $360 million senior secured term loan B (the Term Loan B) and a 5-year $52.5 million senior secured revolving credit facility (the Revolver and together with the Term Loan B, the Facilities).
- LOS ANGELES, April 05, 2021 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI) today announced that it has reached agreement in principle on pricing and syndication for a 7-year $360 million senior secured term loan B (the Term Loan B) and a 5-year $52.5 million senior secured revolving credit facility (the Revolver and together with the Term Loan B, the Facilities).
- Magnites Chief Financial Officer, David Day, said, The Term Loan B and Revolver agreement in principle complete our financing for the pending SpotX acquisition announced on February 5th.
- We believe the combination of Convertible Notes, Term Loan B and Revolver, and equity reflect an attractive means of financing the SpotX acquisition and result in a balanced capital structure for Magnite going forward.
- The new capital structure will result in a blended cash interest rate of 2.9% when combining the Term Loan B and the Convertible Notes.