Priority Technology Holdings, Inc. (PRTH): debt financing — Priority Technology closes $1.1B new senior credit facilities; lowers interest rate by 100 bps

Priority Technology Holdings, Inc.

Closed $1.1B senior credit facilities: $1B term loan (7-yr maturity, 2032) and $100M revolver (5-yr).
Lowered term loan interest rate by 100 bps vs. existing debt; proceeds used to refinance prior term loans.
Used part of proceeds to satisfy outstanding obligations related to the 2023 Plastiq acquisition.
CFO Tim O'Leary says refinancing strengthens balance sheet, improves cash flow, supports growth strategy.
Extended term loan maturity to 2032, revolver to 2030; new facilities replace existing credit agreement.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Priority Technology Holdings, Inc. incurred term loan of $949,824,708.89 at SOFR Loans maturing seven years from the Amendment No. 2 Effective Date.

Instrument: term loan
Principal: $949,824,708.89
Rate: SOFR Loans
Maturity: seven years from the Amendment No. 2 Effective Date
Event: incurrence

Exact text from the filing

Term Loans (as defined in Amendment No. 2) under the Credit Agreement from the 2025-1 Refinancing Term Lender (as defined in Amendment No. 2) in an aggregate principal amount of $949,824,708.89 and (iii) the 2025-1 Incremental Revolving Credit Commitments (as defined in Amendment No. 2) under the Credit Agreement from the 2025-1 Incremental Revolving Credit Lenders (as

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Priority Technology Holdings, Inc. incurred term loan of $50,175,291.11 with Truist Bank at SOFR Loans maturing seven years from the Amendment No. 2 Effective Date.

Instrument: term loan
Principal: $50,175,291.11
Counterparty: Truist Bank
Rate: SOFR Loans
Maturity: seven years from the Amendment No. 2 Effective Date
Event: incurrence

Exact text from the filing

for (i) the 2025-1 Incremental Term Loans (as defined in Amendment No. 2) under the Credit Agreement from the 2025-1 Incremental Term Lender in an aggregate principal amount of $50,175,291.11, which will be added to (and form part of) the 2025-1 Refinancing Term Loans, (ii) the 2025-1 Refinancing Term Loans (as defined in Amendment No. 2) under the Credit Agreement

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Priority Technology Holdings, Inc. incurred revolving credit of $30,000,000 at SOFR Loans maturing five years from the Amendment No. 2 Effective Date.

Instrument: revolving credit
Principal: $30,000,000
Rate: SOFR Loans
Maturity: five years from the Amendment No. 2 Effective Date
Event: incurrence

Exact text from the filing

defined in Amendment No. 2) under the Credit Agreement from the 2025-1 Incremental Revolving Credit Lenders (as defined in Amendment No. 2) in an aggregate principal amount of $30,000,000. The 2025-1 Refinancing Term Loans will be on terms substantially similar to the Initial Term Loans under the Credit Agreement and subject to substantially similar terms and

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10 debt financings filed in the last 30 days. Browse all debt financings →

Priority Technology Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001653558-25-000091

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