Acushnet Holdings Corp. (GOLF): debt financing — Acushnet issues $350M of 7.375% senior notes due 2028 to repay revolver borrowings

Acushnet Holdings Corp.

Acushnet Company issued $350M in gross proceeds of 7.375% senior notes due October 15, 2028.
Net proceeds used to repay existing revolving credit facility borrowings and pay related fees.
Notes are unsecured, interest payable semi-annually beginning April 15, 2024.
Issuer may redeem prior to Oct 15, 2025 at make-whole premium, then declining premiums until par after Oct 15, 2027.
Holdings Corp. and certain subsidiaries guarantee the notes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Acushnet Holdings Corp. incurred senior notes of $350,000,000 with U.S. Bank Trust Company, National Association at 7.375% per year maturing October 15, 2028.

Instrument: senior notes
Principal: $350,000,000
Counterparty: U.S. Bank Trust Company, National Association
Rate: 7.375% per year
Maturity: October 15, 2028
Event: incurrence

Exact text from the filing

On October 3, 2023, Acushnet Company (the “Issuer”), a wholly owned subsidiary of Acushnet Holdings Corp. (the “Company”), completed the issuance and sale of $350,000,000 in gross proceeds of the Issuer’s 7.375% senior notes due 2028 (the “Notes”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Acushnet Holdings Corp. entered into Indenture with U.S. Bank Trust Company, National Association valued at $350,000,000 (effective 2023-10-03).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $350,000,000
Effective: 2023-10-03

Exact text from the filing

On October 3, 2023, Acushnet Company (the “Issuer”), a wholly owned subsidiary of Acushnet Holdings Corp. (the “Company”), completed the issuance and sale of $350,000,000 in gross proceeds of the Issuer’s 7.375% senior notes due 2028 (the “Notes”).

View on SEC.gov

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Acushnet Holdings Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-249950

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