debt
confidence high
sentiment positive
materiality 0.75
Quest Resource completes debt refinancing; cuts interest margin ~150bps, extends maturities to 2029-2030
Quest Resource Holding Corp
- $54M Monroe term loan: SOFR+450-550 bps (vs. prior SOFR+750 bps); maturity extended to June 2030.
- PNC revolver increased from $35M to $45M at SOFR+200 bps (reduced ~40 bps); maturity extended to Dec 2029.
- Refinancing reduces annual interest expense by approximately $1 million.
- Improved leverage covenant levels and reduced prepayment premiums; $25M delayed draw term loan commitment added.