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Stock impact report

DXP Enterprises, Inc. Refinances Existing Debt and Raises an Incremental $205M, Continuing to Drive Growth

DXP Enterprises, Inc. (DXPE) 
Last dxp enterprises, inc. earnings: 3/6 08:00 am Check Earnings Report
Company Research Source: Business Wire
$285 million in cash on the balance sheet at closeReduces applicable margin for borrowings by fifty basis pointsAligns actions to support accelerating acquisition strategy HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has closed on refinancing existing Senior Secured Term Loan B (“TLB”) borrowings and raising an incremental $205 million in TLB borrowings. Including the new borrowings, DXP will have $848 million in Senior Secured Term Loan B borrowings. The TLB borrowings mature on October 13, 2030, and are priced at Term SOFR plus an applicable margin of 3.25 percent.DXP intends to use the proceeds to repay borrowings under DXP’s existing Senior Secured Term Loan B, and the remaining for general corporate purposes, potential acquisitions, and transaction fees and expenses. The transaction provides DXP with continued operational and financial flexibility to reinvest in the business and pursue its organic and acquisition growth strategy.The Te Show less Read more
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