Loan & DebtMay 20, 2026, 08:52 AM
Garrett Motion Reprices Term Loan to SOFR+1.75%, Repays $50M
AI Summary
Garrett Motion Inc. successfully repriced its $635 million term loan, reducing the interest rate to SOFR plus 1.75% (a 25-basis point reduction) and making an early repayment of $50 million. This action is expected to reduce interest expense and strengthen liquidity. Additionally, the company will host a Technology and Investor Day on May 20, 2026, to provide updates on its business and technologies.
Key Highlights
- Term loan interest rate reduced to SOFR plus 1.75% (a 25-basis point reduction).
- Company made an early repayment of $50 million on its existing $635 million term loan.
- Soft call protection of 1.00% for repricing transactions reset for six months.
- The amended credit agreement is dated January 30, 2025, with the term loan due in 2032.
- Garrett Motion will host a live Technology and Investor Day on May 20, 2026.
Price Impact
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