GMR Solutions reprices $2.9 billion term loan, cuts spread by 50 bps
GMRS•Cash repayment to lower borrowings
About $200 million of cash on hand is earmarked to repay term loan borrowings, lowering principal to about $2.7 billion.
Expected interest savings and timing
Annual interest savings are projected at about $28 million. Closing is targeted around Sept. 17, 2026.
Term loan repriced and spread reduced
GMR Solutions secured commitments to reprice its $2.9 billion Term Loan B due October 2032.
The margin resets to SOFR +275 bps from SOFR +325 bps, cutting pricing by 50 bps.
