other material
confidence high
sentiment positive
materiality 0.75
SelectQuote completes $100M securitization, extends term debt maturity to Sept 2027
SelectQuote, Inc.
- Issued $60M of 7.80% Class A notes and $40M of 9.65% Class B notes in ABS facility.
- Proceeds to pay down term debt; new debt has materially lower cost of capital.
- Term debt maturity extended from Sept 2025 to Sept 2027, with potential further extension to Sept 2028.
- Issued warrants to purchase 5,568,360 shares to existing lenders.
- Hired investment bank for strategic review of recapitalization options.