debt
confidence high
sentiment neutral
materiality 0.50
RPM International amends credit facilities: revolver increased to $1.35B, term loan reduced to $250M
RPM INTERNATIONAL INC/DE/
- Revolving credit facility increased from $1.3B to $1.35B; term extended to August 1, 2027.
- Term loan prepaid $50M, reducing outstanding principal to $250M; maturity extended to August 1, 2025.
- Interest rates on both facilities based on base rate or SOFR plus spread tied to debt rating.
- Fourth amendments to existing Credit Agreements dated 2018 (revolver) and 2020 (term loan).