Latest news with #RevolvingCreditFacility
Business Wire
5 days ago
- Business
- Business Wire
Sprouts Farmers Market, Inc. Revises Credit Facility
PHOENIX--(BUSINESS WIRE)--Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced the closing of a $600 million revolving credit facility (the 'Revolving Credit Facility') under a credit agreement dated as of July 25, 2025. The Revolving Credit Facility refinances the company's previous $700 million revolving credit facility, which was replaced in connection with Sprouts' entry into the Revolving Credit Facility. The Revolving Credit Facility contains terms and conditions substantially similar to the company's previous facility, with a commitment expiration date of July 2030, revised pricing terms for loans and commitments thereunder, and additional covenant flexibility. At closing, Sprouts had no outstanding borrowings and letters of credit of $23 million outstanding under the Revolving Credit Facility, with a remaining availability of $577 million. 'While we plan to continue to fund operations and unit growth through our robust cash flow generation, this facility provides Sprouts with financial flexibility as we grow,' said Curtis Valentine, chief financial officer of Sprouts. JPMorgan Chase Bank, N.A., acted as administrative agent, issuing bank, and swingline lender. JPMorgan Chase Bank, N.A., Truist Securities, Inc. and PNC Capital Markets LLC acted as joint lead arrangers and joint bookrunners, Truist Bank and PNC Bank, National Association, acted as co-syndication agents, and Bank of America, N.A., BMO Bank, N.A., and U.S. Bank, National Association acted as co-documentation agents. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our plans regarding unit growth and cash flow generation as well as our company growth. Forward-looking statements are based on our beliefs as well as assumptions made by, and information currently available to, us. The risks and uncertainties to which the forward-looking statements are subject include, without limitation, adverse impacts due to general economic conditions that impact consumer spending or result in competitive responses, our ability to maintain or improve our operating margins, and other risks detailed in the 'Special Note Regarding Forward-Looking Statements,' 'Risk Factors,' and other sections of our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Except as required by applicable law or regulation, we disclaim any obligation, and do not intend, to publicly update or review any of our forward-looking statements, whether as a result of new information, future events, or otherwise. Corporate Profile True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide. To learn more about Sprouts, and the good it brings communities, visit
Business Upturn
19-07-2025
- Business
- Business Upturn
Gray Announces Revolving Credit Facility increase to $750 million and extension to 2028
By GlobeNewswire Published on July 19, 2025, 01:31 IST ATLANTA, July 18, 2025 (GLOBE NEWSWIRE) — Gray Media, Inc. ('Gray' or the 'Company') (NYSE: GTN) today announced that it has (i) increased the aggregate commitments under its revolving credit facility (the 'Revolving Credit Facility') by $50 million, resulting in aggregate commitments under the Revolving Credit Facility of $750 million, and (ii) extended the maturity date of the Revolving Credit Facility from December 1, 2027 to December 1, 2028. In connection with the amendment and the previously announced offering of $900 million aggregate principal amount of 9.625% senior secured second lien notes due 2032 (the 'Notes'), there is $700 million of undrawn availability under the Revolving Credit Facility (excluding approximately $8 million of outstanding letters of credit). The Revolving Credit Facility is available on a revolving basis. The Company also repaid $402.5 million of its term loan F due June 4, 2029 (the 'Term Loan F') with the net proceeds from the Notes, leaving an outstanding Term Loan F balance of $90 million and satisfying all of the Company's mandatory amortization payments prior to maturity. About Gray: Gray Media, Inc. (NYSE: GTN) is a multimedia company headquartered in Atlanta, Georgia. The company is the nation's largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37 percent of US television households. The portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024, as well as the largest Telemundo Affiliate group with 44 markets. The company also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Gray's additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. For more information, please visit Gray Contacts: Jeffrey R. Gignac, Executive Vice President, Chief Financial Officer, 404-504-9828 Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333 # # # Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Business Wire
14-07-2025
- Business
- Business Wire
The GEO Group Amends Senior Revolving Credit Facility
BOCA RATON, Fla.--(BUSINESS WIRE)-- The GEO Group, Inc. (NYSE: GEO) ('GEO' or the 'Company') announced today the closing of an amendment to the Company's Credit Agreement dated as of April 18, 2024 (the 'Amendment'). The Amendment increases GEO's Revolving Credit Facility (the 'Revolver') commitments from $310 million to $450 million and extends the Revolver's maturity to July 14, 2030. The Amendment further provides that interest will accrue on outstanding revolving credit loans at a rate determined with reference to the Company's total leverage ratio. As of today, revolving credit loans accruing interest at a SOFR based rate would accrue interest at the term SOFR reference rate for the applicable interest period plus 2.75% per annum, which is lower by 0.50% from the applicate rate prior to the Amendment. The Amendment also increases GEO's capacity to make restricted payments over the next five years. Prior to the closing of the Amendment, GEO repaid $132 million of the Term Loan B outstanding under the Credit Agreement. Further, as previously disclosed, GEO expects to use net proceeds from the sale of the GEO-owned Lawton Correctional Facility in Oklahoma, which is expected to close on July 25, 2025, to pay off additional senior secured debt, including the remaining balance of the Term Loan B outstanding under the Credit Agreement. These two transactions are expected to reduce GEO's total net debt to approximately $1.47 billion and position GEO to consider potential future capital returns. George C. Zoley, Executive Chairman of GEO, said, 'We are pleased with this recent amendment to upsize and extend our Revolving Credit Facility, which is an important step to position our Company to consider potential future capital returns and support our future financial needs. This transaction also shows the growing support we are receiving from our existing and new banking partners. Our management team and Board of Directors remain focused on the disciplined allocation of capital to enhance long-term value for our shareholders.' About The GEO Group The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO's worldwide operations include the ownership and/or delivery of support services for 98 facilities totaling approximately 77,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 19,000 employees. Use of forward-looking statements This news release may contain 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.
Zawya
09-07-2025
- Business
- Zawya
BB Energy successfully closes its global syndicated 1 Year Revolving Credit Facility at $375mln
BB Energy Group Holding Ltd. – known as BB Energy – a leading, globally integrated energy trading group, is pleased to announce the successful signing of its global flagship USD 375 million 1-Year Revolving Credit Facility (RCF). The 1-year RCF will be used to refinance the maturing facility signed in July 2024, as well as for general corporate purposes. The RCF includes a 1-year extension option, exercisable at BB Energy's request (at the discretion of each lender) and an accordion option up to USD 450 million. BB Energy is among the world's leading independent energy trading companies, with key trading offices in London, Singapore, Dubai, Houston, and Brussels and Geneva. The new facility was launched in primary syndication at USD 300 million on 14 May 2025 and following successful syndication and strong global demand from a range of international banks across continents, the facility was oversubscribed by 36%, exceeding USD 400 million of commitments, which were subsequently scaled back to USD 375 million in line with the Group's current liquidity needs. The banking pool is composed by 26 lenders which comprise a well-diversified Group of leading banks from the US, Europe, the Middle East, Africa and Asia. Jacques Erni, BB Energy's Chief Financial Officer, said: 'We are pleased to announce the successful closure of our 2025 Revolving Credit Facility, which was finalized at USD 375 million. This positive outcome reflects the confidence of our lending partners in BB Energy's financial strength, disciplined capital management, and growth prospects. 'We remain focused on maximizing the value created by our trading strategy and diversified asset portfolio, while upholding our principles of transparency, good governance and operational excellence. 'The transaction was supported by a syndicate of 26 lenders. We extend our sincere appreciation to our core relationship banks for their continued support, and we warmly welcome the new institutions joining our lending group.' Van Gemert, Head of Energy Commodities at CA Indosuez (Switzerland) SA remarked: 'We wish to warmly congratulate the BB Energy on the successful closure of this year's RCF and the BB Energy team who have been highly committed in providing transparency and open discussions with their banking pool. 'In spite of a bearish market environment, characterized by an increase in geopolitical tensions and trade tariffs, BB Energy is managing to navigate these challenges and continues to keep the trust of the banking industry. It is the result of a permanent and open dialogue with its core banking partners as well as an attractive pricing structure. Credit Agricole CIB, acting again as active Bookrunner and Mandated Lead Arranger, is thankful to BB Energy for having participated to this syndication success.' BMLAs, Early Birds The BMLAs were: Abu Dhabi Commercial Bank PJSC, Crédit Agricole Corporate and Investment Bank, First Abu Dhabi Bank PJSC, ING Bank N.V., Mashreqbank, Natixis Corporate & Investment Banking, Société Générale and UBS Switzerland AG. Banca UBAE, Bic-BRED (Suisse), Garanti Bank, HSBC, Nedbank, National Bank of Fujairah and Raiffeisen Bank International AG also joined the new facility as Early Birds prior to the bank meeting. Société Générale also acted as Syndication Coordinator, with ING Bank N.V. as Documentation Agent and Facility Agent, Abu Dhabi Commercial Bank PJSC, Crédit Agricole Corporate and Investment Bank, Natixis Corporate & Investment Banking, and First Abu Dhabi Bank PJSC being also Active Bookrunners of this new transaction. The following banks joined the 8 BMLAs in the facility: Mandated Lead Arrangers: 4 ABSA Group Limited National Bank of Fujairah PSJC Nedbank Limited, London Branch State Bank of Mauritius Ltd Lead Arrangers: 4 Banca UBAE S.p.A. Erste Group Bank AG HSBC UK Bank Plc Standard Bank Arrangers: 2 AKA Ausfuhrkredit-Gesellschaft mbH Citibank N.A., London Branch Co-Arrangers: 7 ABC International Bank Plc BIC-BRED (Suisse) Commercial Bank of Dubai DenizBank AG GarantiBank International N.V. Raiffeisen Bank International AG State Bank of India, DIFC Branch Participants: 1 Habib Bank Limited, Singapore Branch Overview of B.B. Energy Group Holding Ltd BB Energy was founded by the Bassatne Family in the 1960s; with an operational history of more than 60 years. Over the last decade, the Group has expanded its trading operations from the Mediterranean and is now considered one of the leading independently owned energy companies, globally. The Group is primarily engaged in trading Crude, refined oil products, LNG, LPG and is further diversifying into the Downstream space through BBE Downstream and into the Renewable space through the BB Energy Renewable Division and Solar Century Africa. While BB Energy remains a physical trader, it has invested in midstream , downstream, and Solar Battery assets to create a platform for further international expansion. Today, BB Energy is a dynamic independent energy trading company with key trading hubs in London, Brussels, Geneva, Dubai, Houston, and Singapore, and has approx. 410 professionals. During 2024, BB Energy achieved traded volumes of c.33 million tons of crude and petroleum products and gas which resulted in a turnover of approx. USD 23 billion. Press Contact B.B. Energy Group Holding Ltd. Name: Matthew Willey Title: Group Head of Corporate Affairs Email:
Business Wire
26-06-2025
- Business
- Business Wire
Penguin Solutions Strengthens Balance Sheet with Refinancing
MILPITAS, Calif.--(BUSINESS WIRE)-- Penguin Solutions, Inc. ('Penguin Solutions' or the 'Company') (Nasdaq: PENG) today announced that it has completed a refinancing of its credit facilities via a $400 million Revolving Credit Facility, which includes a $35 million letter of credit subfacility (collectively, the 'Credit Facilities'). 'This refinancing represents a significant financial milestone for the Company,' said Nate Olmstead, chief financial officer. 'As part of the transaction, the Company has meaningfully reduced leverage while also extending our overall debt maturity. This new financing provides future flexibility for the Company's capital needs and reduces debt service costs due to the lower funded debt following this transaction.' The transaction refinances and replaces the $300 million Term Loan A Facility due 2027 and the $250 million Revolving Credit Facility due 2027 (collectively, the 'Existing Credit Facilities'). The Existing Credit Facilities were repaid and terminated in connection with the transaction. The Credit Facilities closed on June 24, 2025, and the Company borrowed $100 million under the new Revolving Credit Facility. The Company repaid in full the $300 million outstanding under the Existing Credit Facilities with a mix of the $100 million in borrowings under the Credit Facilities and $200 million in available cash, reducing the Company's funded debt by $200 million. The Credit Facilities mature in 2030. Interest on the Credit Facilities will be based on a Total Net Leverage grid, with the initial interest rate being the Secured Overnight Financing Rate ('SOFR') plus 1.75%. JPMorgan Chase Bank, N.A. led the transaction with BofA Securities, Inc., Citizens Bank, N.A., PNC Bank, National Association, and Santander Bank, N.A. acting as joint lead arrangers and Fifth Third Bank, National Association, and Goldman Sachs Bank USA acting as co-documentation agents. Additional information about this transaction can be found in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. Use of Forward-Looking Statements This press release contains 'forward-looking statements,' which are based on current expectations and preliminary assumptions that are subject to factors and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside the Company's control, including, among others: the Company's liquidity position, the Company's ability to draw on the Credit Facilities, the Company's compliance with the terms and conditions of the Credit Facilities (including the covenants contained therein), fluctuations in the SOFR, the aggregate overall level of indebtedness that the Company incurs, global business and economic conditions, and other factors and risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, which include the Company's most recent reports on Form 10-K and Form 10-Q. Such factors and risks as outlined above and in such filings do not constitute all factors and risks that could cause actual results of Penguin Solutions to be materially different from our forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we do not undertake to update the forward-looking statements contained in this press release to reflect the impact of circumstances or events that may arise after the date that the forward-looking statements were made. About Penguin Solutions The most exciting technological advancements are also the most challenging for companies to adopt. At Penguin Solutions, we support our customers in achieving their ambitions across our Advanced Computing, Integrated Memory, and Optimized LED business segments. With our expert skills, experience, and partnerships, we turn our customers' most complex challenges into compelling opportunities. For more information, visit
