Post Holdings raises $400M incremental term loan due 2026 for general corporate purposes

Post Holdings, Inc.

Incremental term loan of $400M borrowed April 26, 2023; matures April 26, 2026.
Interest at Base Rate + 1.25% or Adjusted Term SOFR + 2.25% per annum.
Proceeds for general corporate purposes, including acquisitions, share/debt repurchases, and fees.
New financial covenants: max secured net leverage ratio 4.25x, min interest coverage 2.00x.
Mandatory prepayment from excess cash flow (50%-0% based on leverage) and certain asset sales.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Post Holdings, Inc. entered into Joinder Agreement No. 4 with certain of Post’s subsidiaries, as guarantors, the institutions party to the Joinder Agreement as lenders (the “Lenders”) and Barclays Bank PLC, as the administrative agent valued at $400.0 million (effective 2023-04-26).

Action: entry
Agreement: credit facility
Counterparty: certain of Post’s subsidiaries, as guarantors, the institutions party to the Joinder Agreement as lenders (the “Lenders”) and Barclays Bank PLC, as the administrative agent
Value: $400.0 million
Effective: 2023-04-26

Exact text from the filing

On April 26, 2023, Post Holdings, Inc. (“Post”) entered into a Joinder Agreement No. 4 (the “Joinder Agreement”) by and among Post, as borrower, certain of Post’s subsidiaries, as guarantors, the institutions party to the Joinder Agreement as lenders (the “Lenders”) and Barclays Bank PLC, as the administrative agent.

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Post Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001530950-23-000111

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