Cereal maker Post Holdings completed a repricing of its existing approximately $2.2 billion term loan through an amendment to its credit agreement.
According to a related 8-K filing, Barclays served as administrative agent for the transaction. Barclays, Credit Suisse Securities, Merrill Lynch and Wells Fargo Securities were joint lead arrangers.
The amendment reduces the interest rate applicable to the company’s term loan by 25 basis points (0.25%) to the Eurodollar rate plus 2.00% or the base rate plus 1.00%. The repricing is expected to reduce annual cash interest by approximately $5 million. The term loan maturity date of May 24, 2024 and all other material provisions under the credit agreement remain unchanged.
