NewsMV
Magnite (NASDAQ: MGNI) completed the third successful repricing of its $358 million senior secured term loan facility due February 2031 and its $175 million senior secured revolving credit facility maturing in February 2029.
The term loan adjustment reduces the interest rate by 50 basis points, bringing the new rate to Term SOFR plus 2.50%, down from the previous Term SOFR plus 3.00%.
Magnite stated that this rate reduction generates approximately $1.8 million in annualized cash interest savings.
This specific improvement is part of a cumulative reduction of 250 basis points compared to the rate in place before Magnite refinanced the term loan in February 2024.
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