Loan & DebtJun 10, 2026, 04:56 PM
HNI Refinances $498.75M Term Loans Maturing 2032
AI Summary
HNI Corporation entered into Amendment No. 3 to its Credit Agreement, effectively refinancing its existing term loans. This amendment establishes a new $498.75 million tranche of Replacement Term Loans, which are set to mature in 2032. The proceeds from these new loans were utilized to fully refinance all outstanding Initial Tranche B Term Loans, with an amortization rate of 1.00% per annum.
Key Highlights
- Refinanced existing term loans with a new $498.75 million tranche of Replacement Term Loans.
- The new Replacement Term Loans mature in 2032.
- Amortization rate for the Replacement Term Loans is 1.00% per annum.
- First installment for Replacement Term Loans is payable around September 30, 2026.
- Applicable Percentage is 1.75% for SOFR Loans and 0.75% for Alternate Base Rate Loans.
Price Impact
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