Magnite Successfully Completes Second Term Loan Repricing

Magnite, an independent sell-side advertising company, repriced, for the second time, its $363 million senior secured term loan facility due February 2031. The repricing reduces the interest rate by 75 basis points to term SOFR + 3.00% from the previous rate of term SOFR + 3.75% and will result in yearly interest savings of over $2.7 million. The interest rate improvement represents a cumulative reduction of 200 basis points compared to the rate prior to the refinancing of the term loan in February of 2024. There are no changes to the maturity of the term loan following this repricing, and all other terms are substantially unchanged.