RH completes $2B term loan financing; funds conversion of $380M in convertible notes

Term Loan $2.0B, matures Oct 2028, LIBOR + 2.50% (0.50% floor), issued at 0.50% discount.
Proceeds to redeem $256M of 2023 convertible notes and $124M of 2024 convertible notes that elected early conversion.
Accordion feature allows up to $1.0B additional commitments; rated Ba2/BB.
Expected after-tax interest expense impact of ~$11M in fiscal Q4 2021 per CFO Jack Preston.
CEO Gary Friedman says financing creates substantial optionality for global luxury brand investments.

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