Advantage Solutions completes debt exchange: $559M new 9% notes due 2030, $1.035B term loan

Advantage Solutions Inc.

Exchanged $590.6M of 6.50% existing notes for $559.1M of 9.000% notes due 2030 and $43.7M cash.
New term loan facility of approximately $1.035B at SOFR + 6.00%, maturing in 2030.
Amended revolving credit facility upsized to $500M, maturing earlier of 2030 or 91 days before term loan/notes.
99.24% of existing notes tendered; existing first lien credit agreement terminated.
Interest expense increases from 6.50% to 9.00% on exchanged notes, reflecting higher leverage cost.

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