Topgolf Callaway Brands (MODG) has provided an announcement.
Topgolf Callaway Brands Corp. has successfully amended its credit agreement, resulting in a reduced interest rate for its $1.25 billion senior secured term loan and eliminating a previous credit spread adjustment. This strategic financial move, which includes a revised prepayment premium structure, aims to enhance the company’s borrowing costs. The amendment offers a choice between a SOFR-based rate and a base rate, both with a newly adjusted margin, contingent on the company’s credit ratings by S&P and Moody’s. This development reflects the company’s proactive approach to managing its debt and optimizing its financial strategy.
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