Chart Industries Cuts Costs with $1.63B Loan Repricing, Eyes $14M Annual Savings
Portfolio Pulse from Benzinga Newsdesk
Chart Industries, Inc. (NYSE:GTLS) has successfully repriced its $1.63 billion senior secured term loan, reducing the interest rate and removing a credit spread adjustment. This move is expected to save the company approximately $14 million annually in interest expenses.
June 13, 2024 | 10:35 am
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Chart Industries has repriced its $1.63 billion senior secured term loan, reducing the interest rate by 0.75% per annum and removing a 0.10% credit spread adjustment. This is expected to save the company $14 million annually in interest expenses.
The reduction in interest rates and removal of the credit spread adjustment will lower Chart Industries' annual interest expenses by $14 million, positively impacting its financial health and potentially boosting investor confidence.
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