DXP Enterprises Closes Refinancing Of Senior Secured Term Loan B And Raises Additional $105M, Bringing Total Borrowings To $649.5M; Reduces Borrowing Margin By 100 Basis Points; Plans To Use Proceeds For Debt Repayment, Acquisitions, And General Corporate Purposes; Maintains Flexibility To Support Accelerating Growth Strategy And Reinvestment Plans
Portfolio Pulse from Benzinga Newsdesk
DXP Enterprises has refinanced its Senior Secured Term Loan B, raising an additional $105 million, bringing total borrowings to $649.5 million. The company reduced its borrowing margin by 100 basis points and plans to use the proceeds for debt repayment, acquisitions, and general corporate purposes, maintaining flexibility for growth and reinvestment.
October 08, 2024 | 6:26 pm
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DXP Enterprises has successfully refinanced its Senior Secured Term Loan B, raising an additional $105 million and reducing its borrowing margin by 100 basis points. The company plans to use the funds for debt repayment, acquisitions, and general corporate purposes, supporting its growth strategy.
The refinancing and additional funds provide DXP Enterprises with more financial flexibility and lower borrowing costs, which are positive for its growth strategy and potential acquisitions. This is likely to be viewed favorably by investors, potentially boosting the stock price in the short term.
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