Brief: API Group Reprices Term Loans

APi

06/10/2023 11:38

Oct 6 (Reuters) - APi Group Corp  APG.N :
    * API GROUP REPRICES TERM LOANS
    * $422 MILLION OF TERM LOAN DUE 2026 WILL BE EXTENDED TO
2029,
ASSUMING ALL SAME TERMS AS REPRICED TERM LOAN DUE 2029
    * API GROUP- REPRICING REDUCES APPLICABLE MARGIN ON
OUTSTANDING
AMOUNTS BY 25 BASIS POINTS REPRESENTING CASH SAVINGS OF
APPROXIMATELY $4 MILLION ANNUALLY
    * API WILL REPAY $100 MILLION OF TERM LOAN DUE 2026
CONCURRENT
WITH CLOSE OF THIS TRANSACTION
    * FOLLOWING TRANSACTION, API WILL HAVE $505 MILLION
OUTSTANDING ON
ITS TERM LOAN DUE 2026 AND $1,407 MILLION OUTSTANDING ON ITS
TERM LOAN DUE 2029
    * API GROUP - API'S AGGREGATE $1,120 MILLION OF INTEREST
RATE
SWAPS RELATED TO ITS TERM LOANS WILL REMAIN IN EFFECT FOLLOWING
REPRICING AND EXTENSION

Source text for Eikon:  ID:nBw84SLysa 
Further company coverage:  APG.N 

 ((Reuters.Briefs@thomsonreuters.com))