---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-136724"
form_type: "8-K"
ticker: "APG"
cik: "0001796209"
company_name: "APi Group Corp"
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:35:38.900836+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# APi Group completes $2.26B term loan refinancing; margin cut by 50 bps, saves $12M/year

## Summary
- Issued ~$2,257M incremental term loans due 2029 to refinance $1,707M existing term loans, $330M term loans due 2026, and $100M revolver.
- Applicable margin reduced by 50 bps to Term SOFR + 2.00% (or Base Rate + 1.00%); credit spread adjustment eliminated.
- Estimated cash interest savings of approximately $12 million annually.
- Post-transaction and after close of Elevated acquisition, net leverage expected ~2.8x with weighted avg maturity ~5 years.
- APi's $1,120M interest rate swaps remain in effect; conference schedule updated to May 14.

## SEC filing metadata
- accession: 0001193125-24-136724
- form_type: 8-K
- ticker: APG
- cik: 0001796209
- company_name: APi Group Corp
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1796209/000119312524136724/0001193125-24-136724-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1796209/000119312524136724/d800002d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-136724
- JSON: https://secwatch.observer/filing/0001193125-24-136724.json
- Plain text: https://secwatch.observer/filing/0001193125-24-136724.txt

## Key facts
- Debt Financings
  APi Group Corp incurred term loan of approximately $2,257 million with Citibank, N.A. at base rate plus a reduced applicable margin equal to 1.00% per annum, or (ii) a t maturing January 3, 2029.
  - Instrument: term loan
  - Principal: approximately $2,257 million
  - Counterparty: Citibank, N.A.
  - Rate: base rate plus a reduced applicable margin equal to 1.00% per annum, or (ii) a t
  - Maturity: January 3, 2029
  - Event: incurrence
  source text: Amendment No. 6 provides for the incurrence of a tranche of incremental term loans (the "Repriced 2021 Incremental Term Loans") under the Credit Agreement in an aggregate amount of approximately $2,257 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1796209/000119312524136724/0001193125-24-136724-index.htm
- Material Agreements
  APi Group Corp amended Amendment No. 6 to Credit Agreement with Citibank, N.A., as collateral agent and as administrative agent valued at approximately $2,257 million (effective 2024-05-10).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as collateral agent and as administrative agent
  - Value: approximately $2,257 million
  - Effective: 2024-05-10
  source text: On May 10, 2024 (the “Funding Date”), APi Group DE, Inc. (the “Borrower”), a wholly owned subsidiary of APi Group Corporation (the “Company”) entered into and closed the transactions contemplated by that certain Amendment No. 6 to Credit Agreement (“Amendment No. 6”), by and among the Borrower, the Company, certain subsidiaries of the Borrower party thereto, Citibank, N.A., as collateral agent and as administrative agent (in such collective capacities, the “Agent”), and the lenders party thereto
  evidence_url: https://www.sec.gov/Archives/edgar/data/1796209/000119312524136724/0001193125-24-136724-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.