DXP adds $105M term loan, cuts margin 100 bps, total borrowings $649.5M

DXP ENTERPRISES INC

Incremental $105M term loan brings total outstanding to $649.5M; matures Oct 13, 2030.
Priced at Term SOFR + 3.75%; refinancing reduces applicable margin by 100 bps, saving ~$6M/year in interest.
Proceeds for acquisitions, general corporate purposes, and transaction fees; balance sheet cash $110M at close.
Covenant compliance adjusted EBITDA $187.6M (LTM Jun 2024); pro forma net debt to EBITDA 2.75:1.

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