Magnite reprices USD 358 million term loan B to Term SOFR + 2.50%
MGNI•Magnite cut the margin on its USD 358 million term loan due February 2031 by 50 basis points to Term SOFR + 2.50%, estimating annualized cash interest savings of about USD 1.8 million. It also reduced the margin range on its USD 175 million revolving credit facility by 100 basis points; maturities are unchanged.
1. Loan repricing
Magnite repriced its USD 358 million senior secured term loan due February 2031, cutting the margin by 50 basis points to Term SOFR + 2.50%. The company estimates annualized cash interest savings of about USD 1.8 million.
2. Revolver terms
Magnite also repriced its USD 175 million senior secured revolving credit facility, which matures in February 2029. Borrowings are now priced at Term SOFR + 2.5% to 3.0%, down from 3.5% to 4.0%; maturities and other terms are substantially unchanged.
