BLUE BELL, PA — BrightView Holdings, Inc. (NYSE: BV) has completed the repricing of its $738 million senior secured term loan, set to mature in 2029. The adjustment reduces the loan’s interest rate from Term SOFR plus 2.50% to Term SOFR plus 2.00%, delivering significant financial benefits for the company.
The repricing, which follows a similar initiative in May 2024, is expected to generate annual cash interest savings of approximately $7.5 million. Over the term of the loan, savings are estimated at approximately $35 million, a notable achievement for the company as it continues to refine its financial position.
“We repriced our term loan in May 2024 and, again, we executed a repricing this week. Opportunistically managing the balance sheet and continuing to push costs down creates flexibility and drives our commitment to profitable growth,” said Brett Urban, BrightView’s Chief Financial Officer.
By reducing borrowing costs, BrightView aims to improve its financial flexibility and strengthen its position as a leading provider of commercial landscaping services. The company has been steadily expanding through strategic acquisitions, which have contributed to its strong financial performance.
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