Vertiv (VRT) Reduces Interest by 61 Basis Points, Saving $13M Annually

By Tamara Parker • Thursday, June 13 15:07 • Permanent Link

Vertiv (NYSE: VRT) has announced the successful completion of the repricing of its existing seven-year $2.1 billion term loan, resulting in significant interest savings. The repricing reduces the interest on the term loan by approximately 61 basis points to term sofr + 200 basis points, leading to interest savings of approximately $13 million per year.

This move is significant as it reflects the company's efforts to optimize its capital structure and reduce financing costs. As a global provider of critical digital infrastructure and continuity solutions, Vertiv aims to enhance its financial flexibility and efficiency through such strategic actions.

The interest savings of approximately $13 million per year resulting from the repricing of the term loan demonstrates the company's commitment to driving cost efficiencies and maximizing shareholder value.

This development showcases Vertiv's proactive approach to managing its financial obligations and optimizing its capital allocation, which could potentially have a positive impact on the company's overall financial performance and future growth prospects. The market has reacted to these announcements by moving the company's shares 5.0% to a price of $94.67. If you want to know more, read the company's complete 8-K report here.

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