PGT Innovations, Inc. Announces Repricing of Senior Secured Term Loan Facility Due February 2022 at LIBOR+3.50%, a 1.25% Reduction in Margin
PGT Innovations, Inc. (PGTI)
Last pgt innovations, inc. earnings: 2/25 07:30 am
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US:NASDAQ Investor Relations:
ir.pgtinnovations.com
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Source: Business Wire
VENICE, Fla.--(BUSINESS WIRE)-- PGT Innovations, Inc. (NYSE:PGTI), the leading U.S. manufacturer and supplier of impact-resistant windows and doors (the “Company”), today announced that it has entered into an amendment to its existing $224 million senior secured term loan facility due February 2022 (the “Term Loan Facility”), which has resulted in, among other things, a 125 basis point reduction in the interest rate applicable to the Term Loan Facility. The Company estimates that this interest rate reduction should reduce its cash debt service costs by an aggregate of nearly $2.8 million over the next twelve months, as compared to what those costs would have been without the reduction. “With this amendment, we have reduced our interest margin by a total of 225 basis points since February 2017, significantly improving our cost of capital,” said Jeff Jackson, PGT Innovations’ President and Chief Executive
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PGTI
Earnings
- 11/2/23 - Beat
PGTI
Sec Filings
- 3/29/24 - Form 4
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- PGTI's page on the SEC website