GMS Inc (GMS) has released an update to notify the public and investors about an entry into a material definitive agreement.
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GYP Holdings III Corp., a subsidiary of GMS Inc., secured a significant cost-saving financial maneuver by amending its senior secured first lien term loan facility, resulting in a reduced interest rate. By negotiating with lenders and JPMorgan Chase Bank acting as the administrative agent, the company lowered the interest rate on its SOFR loans from 3.00% to 2.25% and on its base rate loans from 2.00% to 1.25%, marking a strategic move to ease its debt servicing costs.
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For a comprehensive understanding of the announcement, you can read the full document here.
