Pyxus completes debt exchange; extends maturities to Dec 2027, issues $580M new debt

PYXUS INTERNATIONAL, INC.

Exchanged 100% of DDTL facility loans and exit facility loans; ~92.7% of existing 10% notes exchanged for new 8.50% notes due 2027.
Issued $189M New Intabex Loans, $130.5M New Pyxus Loans (SOFR+8% or base+7%), and $260.5M New 8.50% Senior Secured Notes.
All new debt matures December 31, 2027; old DDTL and exit term loan credit agreements terminated.
Existing notes indenture amended: covenants eliminated, collateral released, notes subordinated to new senior debt.
ABL credit agreement amended to permit the transactions and align covenants.

item 1.01 item 1.02 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.5

PYXUS INTERNATIONAL, INC. entered into Intabex Term Loan Credit Agreement with Alter Domus (US) LLC, as administrative agent and senior collateral agent, and the lenders party thereto valued at approximately $189.0 million (effective 2023-02-06).

Action: entry
Agreement: credit facility
Counterparty: Alter Domus (US) LLC, as administrative agent and senior collateral agent, and the lenders party thereto
Value: approximately $189.0 million
Effective: 2023-02-06

Exact text from the filing

Pyxus Holdings entered into the Intabex Term Loan Credit Agreement, dated as of February 6, 2023 (the “ New Intabex Credit Agreement ”), by and among, Pyxus Holdings, the guarantors party thereto, the lenders party thereto and Alter Domus (US) LLC (“ Alter Domus ”), as administrative agent and senior collateral agent, to establish a term loan credit facility in an aggregate principal amount of approximately $189.0 million

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PYXUS INTERNATIONAL, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-032684

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