debt
confidence high
sentiment neutral
materiality 0.60
Cimpress launches $525M senior notes due 2032 to refinance 7.0% 2026 notes
CIMPRESS plc
- Offering $525M aggregate principal of senior notes due 2032 in private placement.
- Proceeds plus cash on hand to redeem all existing 7.0% Senior Notes due 2026.
- Credit agreement amendment planned to extend revolver maturity from May 2026 to Sep 2029 and adjust interest rate.
- Transaction expected to be leverage neutral other than covering fees.
- Offering and credit amendment are not contingent on each other.