Scotts Miracle-Gro enters $2.5B credit facility, replacing $2.3B prior facility

SCOTTS MIRACLE-GRO CO

$2.5B senior secured facilities: $1.5B revolver + $1.0B term loan, maturing April 8, 2027.
Replaces $2.3B Fifth Amended facility from July 2018; extends maturity by ~4 years.
Leverage ratio covenant at 4.50:1.00; restricted payments limited if leverage >4.0:1.0.
Proceeds refinance prior debt and fund general corporate purposes and working capital.
Interest rates tied to Adjusted Term SOFR plus spread; initial spread on revolver 1.20%.

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