Simply Good Foods reprices $431.5M term loan; margin cut 50 bps to SOFR+3.25%

Simply Good Foods Co

Repriced $431.5M term loan; margin reduced from LIBOR+3.75% to SOFR+3.25%, plus credit spread adjustment of 10-25 bps.
Minimum SOFR rate set at 50 bps, replacing 1% LIBOR floor.
Term loan maturity unchanged at July 7, 2024; closing expected on or about Jan 21, 2022.
Revolving credit now bears SOFR plus applicable margin, with no credit spread adjustment or minimum SOFR.

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