BOWLING GREEN, Ky.–(BUSINESS WIRE)–Holley Inc. (NYSE: HLLY), the most important and quickest rising platform within the fanatic branded efficiency automotive aftermarket class, immediately introduced the profitable refinancing of its 2018 credit score facility with a brand new $825 million credit score facility. The brand new facility is comprised of seven-year $600 million first-lien time period mortgage, a five-year $125 million revolving credit score facility, and a $100 million delayed draw time period mortgage. The brand new time period mortgage priced at LIBOR +375 foundation factors. Neither the delayed draw time period mortgage nor the revolver have been funded at closing.
“This transaction represents one other milestone for our firm,” mentioned Dominic Bardos, Chief Monetary Officer of Holley. “The refinancing offers extra favorable rates of interest than the debt that was changed, whereas concurrently increasing our capability for future borrowing to assist our acquisition technique. I’m happy with the result of this refinancing transaction.”
About Holley
Holley Inc. (NYSE: HLLY) is a number one designer, marketer, and producer of high-performance merchandise for automobile and truck fans. Holley presents the most important portfolio of iconic manufacturers that ship innovation and inspiration to a big and various group of tens of millions of avid automotive fans who’re passionate in regards to the efficiency and personalization of their basic and fashionable automobiles. Holley has disrupted the efficiency class by placing the fanatic shopper first, growing revolutionary new merchandise, and constructing a strong M&A course of that has added significant scale and variety to its platform. For extra info on Holley, go to https://www.holley.com.
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