Loan & DebtOct 7, 2026, 04:36 PM
Magnite Reduces Loan Interest Rates, Saving $1.8M Annually
AI Summary
Magnite, Inc. announced the successful repricing of its senior secured term loan and revolving credit facilities. The repricing reduces the interest rate on the Term Loan by 50 basis points to Term SOFR + 2.50%, resulting in estimated annualized cash interest savings of approximately $1.8 million. The interest rate margin on the Revolving Credit Facility was also reduced by 100 basis points to a range of Term SOFR + 2.5% - 3.0%. The company stated these actions reflect the strength of its balance sheet and confidence from lending partners.
Key Highlights
- Magnite repriced its $358 million senior secured term loan facility due February 2031.
- Interest rate on Term Loan reduced by 50 basis points to Term SOFR + 2.50%, saving approx. $1.8M annually.
- Magnite repriced its $175 million senior secured revolving credit facility maturing February 2029.
- Interest rate margin on Revolving Credit Facility reduced by 100 basis points to Term SOFR + 2.5% - 3.0%.
- This is the third successful repricing of the Term Loan and Revolving Credit Facility.
- The company cited continued strength of its balance sheet and robust cash flow generation.
Price Impact
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