Magnite reprices $358M Term Loan B to SOFR+2.50%, cutting 50bps; ~$1.8M annual interest savings

MAGNITE, INC.

Amendment No. 3 to the Feb 6, 2024 credit agreement cuts the Term Loan B margin by 50bps to Term SOFR + 2.50% (from 3.00%); the $358M term loan still matures February 2031.
Revolving credit facility margin cut 100bps: borrowings on the $175M facility now bear Term SOFR + 2.50%-3.00%, down from 3.50%-4.00%; revolver matures February 2029.
Magnite estimates the repricing yields approximately $1.8M in annualized cash interest savings, a cumulative 250bps reduction versus the rate before the February 2024 term loan refinancing.
CFO Brian Gephart credits balance-sheet strength and cash flow generation; all other material terms on both facilities remain substantially unchanged.

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