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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Primo Water in New $35MM Credit Facility With Prudential
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Lenders/Participants
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Prudential Insurance Company of America [Lender]
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Structure
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$15MM Revolver; $20MM Term Loan
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Amount
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$35.000
Million
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Borrower(s)
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Primo Water Corporation
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Description
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The new credit facility provides up to $35 million in borrowing availability and is made up of a $15 million revolving credit facility that matures in June of 2019 and $20 million in term notes with final maturities in June of 2021. The revolving portion of the credit facility has an interest rate of LIBOR plus 4.25% and the term notes have an interest rate of 7.8%, which reflects a significant reduction from the rate of the company's prior debt. The company used proceeds from the new credit facility to repay its existing debt and anticipates having additional future availability under the revolving portion of the new credit facility for general working capital purposes. As of the closing date, the company has $9.5 million in availability under the revolving portion of the credit facility.
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Industry
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Specialty Industries
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ABL Advisor
Deal Tables
2024
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