Latham Group refinances debt: new $300M term loan and $75M revolver, maturing 2033/2031

Latham Group, Inc.

New senior secured credit agreement with Jefferies Finance as administrative agent; replaces Feb 2022 Barclays facility.
Term loan facility: $300M at Term SOFR + 4.00% or ABR + 3.00%, matures Aug 20, 2033.
Revolving facility: $75M, multicurrency (USD, CAD, EUR, AUD), matures Aug 20, 2031; margins 3.25-3.50% (SOFR/CORRA) or 2.25-2.50% (ABR/Prime).
Mandatory prepayments: 50% excess cash flow, 100% net asset sale proceeds; financial covenant max first-lien net leverage 5.20x if revolver usage >40%.
Proceeds used to repay and terminate prior credit agreement with Barclays Bank PLC.

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