GMR Solutions repays USD 200 million of term loan debt
GMRS•Lower borrowing cost and interest savings
Pricing tightened to SOFR +275 basis points from SOFR +325 basis points, cutting the margin by 50 basis points. Annual cash interest expense savings are expected to total about $28 million.
Term loan repricing and partial repayment
GMR Solutions completed a repricing of its $2.9 billion Term Loan B facility due October 2032. The company used about $200 million of cash on hand to repay term loan borrowings, cutting outstanding principal to about $2.7 billion.
