Turtle Beach Corp (TBCH): debt financing — Turtle Beach enters $150M credit facility ($60M term loan + $90M revolver), matures Aug 2028

Turtle Beach Corp

New $150M credit facility includes a $60M term loan and a $90M revolving credit facility, maturing August 1, 2028.
Interest rates: base rate loans at SOFR/prime + 2.00%-2.75%; term SOFR/EURIBOR loans at +3.00%-3.75%.
Facility secured by substantially all assets of loan parties; includes financial covenants (fixed charge coverage ratio, leverage ratio).
Proceeds used to refinance existing indebtedness and for working capital and general corporate purposes.
Facility replaces previous debt arrangements and provides $60M term loan, $90M revolving availability.

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

Turtle Beach Corp incurred credit facility of a $60,000,000 term loan facility and a $90,000,000 revolving credit facility with Bank of America, N.A., as the administrative agent, the swingline lender and the L/C issuer at floating rate plus a margin ranging from 2.00% to 2.75% for base rate loans and maturing August 1, 2028.

Instrument: credit facility
Principal: a $60,000,000 term loan facility and a $90,000,000 revolving credit facility
Counterparty: Bank of America, N.A., as the administrative agent, the swingline lender and the L/C issuer
Rate: floating rate plus a margin ranging from 2.00% to 2.75% for base rate loans and
Maturity: August 1, 2028
Event: incurrence

Exact text from the filing

The Credit Agreement includes a $60,000,000 term loan facility (the “Term Loan Facility”) and a $90,000,000 revolving credit facility (“Revolving Facility", and together with the Term Loan Facility, the “Facilities”)

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Source: SEC EDGAR

accession 0001193125-25-172675

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