Why Regis Corporation Stock Is Soaring
Portfolio Pulse from Erica Kollmann
Regis Corporation (NASDAQ:RGS) shares surged after announcing a new senior secured credit facility with TCW Asset Management, refinancing its existing debt. The $105 million term loan will reduce debt by over $80 million and save $7 million in annual cash interest. The stock saw heavy trading volume, with shares up 197.8% to $15.10.
June 25, 2024 | 3:39 pm
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Regis Corporation announced a new $105 million senior secured credit facility with TCW Asset Management, reducing its debt by over $80 million and saving $7 million in annual cash interest. This strategic refinancing is expected to improve the company's financial health and flexibility.
The new credit facility significantly reduces Regis Corporation's debt and annual interest expenses, which is a positive development for the company's financial health. This has led to a substantial increase in the stock price, indicating strong investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100