Senior secured describes a loan or bond that has first claim on a company’s assets and is backed by specific collateral, like a mortgage on property. For investors, that means they are paid before other creditors if the company struggles or is liquidated, reducing the chance of loss compared with unsecured or junior debt. Think of it as a front-of-the-line, collateral-backed claim that typically carries lower interest because of that added protection.
term loan bfinancial
A Term Loan B (TLB) is a large, syndicated loan made to a company that is typically sold to institutional investors rather than held by banks; think of it as a long-term mortgage from a group of investors with higher interest and smaller early payments. It matters to investors because it changes a company’s debt cost, repayment schedule and credit risk—factors that affect profit, cash flow and the market value of both the company’s equity and its traded debt.
sofrfinancial
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
original issue discountfinancial
Original issue discount (OID) is the difference between a debt security’s face value and the lower price at which it is first sold, treated as additional interest that accrues over the life of the instrument. For investors it matters because OID raises the effective yield and changes taxable income and the holding’s cost basis over time — think of buying a $100 voucher for $90 and recognizing the $10 gain as earned interest as the voucher approaches maturity.
revolving credit facilityfinancial
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
refinancefinancial
Refinance means replacing an existing loan or bond with a new one under different terms, much like trading an old mortgage for a new one with a lower monthly payment or longer timeline. For investors, refinancing matters because it changes a company’s interest costs, cash flow and risk profile — which can improve profits and credit standing or, if done poorly, increase leverage and pressure on future returns.
net leveragefinancial
Net leverage measures how many years it would take for a company to pay off its outstanding debt using its annual operating cash flow, after subtracting cash on hand from total debt. Think of it like a household’s mortgage balance minus savings divided by yearly income; a lower number means the company is in a safer position to handle debt, while a higher number signals greater financial risk and potential pressure on profits or growth.
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DUNDALK, Ireland--(BUSINESS WIRE)--
Cimpress plc (Nasdaq: CMPR) announced the pricing and allocation of a 7-year $1.1 billion senior secured Term Loan B (the “Term Loan B”) that would mature in 2033. The Term Loan B would bear interest at SOFR (with a SOFR floor of 0.00%) plus 2.50%, and be offered at 99.75% of par (or with an original issue discount of 0.25%). Cimpress is also extending the tenor of its $250 million secured revolving credit facility, which would now mature in 2031.
As previously disclosed, Cimpress will use funds borrowed under the Term Loan B to refinance its existing $1.065 billion Term Loan B due 2028 and for general corporate purposes. Cimpress expects to close the Term Loan B transaction by early June 2026 and that the transaction will be approximately net leverage neutral on a pro-forma basis.
About Cimpress
Cimpress plc (Nasdaq: CMPR) helps millions of businesses build brands, stand out and grow via customized physical marketing products and branded merchandise. Founded in 1995, Cimpress has become the global leader in web-to-print mass customization, delivering high-quality, affordable customized physical products quickly and conveniently, even in very low quantities. Cimpress brands include VistaPrint, WIRmachenDRUCK, Pixartprinting, Pens.com, BuildASign, druck.at, Drukwerkdeal, easyflyer, Exaprint, Packstyle, Printi, Tradeprint and BoxUp. To learn more, visit https://www.cimpress.com.
Cimpress and the Cimpress logo are trademarks of Cimpress plc or its subsidiaries. All other brand and product names appearing on this announcement may be trademarks or registered trademarks of their respective holders.
This press release contains statements about our future expectations, plans, and prospects of our business that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, including the expected closing of the debt transaction described in this press release and planned refinancing of Cimpress’ Term Loan B due 2028, the expected extension of the tenor of Cimpress’ secured revolving credit facility, and Cimpress’ net leverage resulting from the transaction. Forward-looking projections and expectations are inherently uncertain, are based on assumptions and judgments by management, and may turn out to be wrong. The parties may choose not to move forward with the debt transaction described in this press release, negotiations may break down, or the closing conditions to the transaction may not be satisfied, which could cause the transaction to be delayed or not to close at all. In addition, Cimpress could elect not to proceed with the planned refinancing of its existing Term Loan B if the debt transaction does not proceed or for other reasons. Please refer to our Form 10-K for the fiscal year ended June 30, 2025 and the other documents we periodically file with the U.S. Securities and Exchange Commission for descriptions of other risks that could impact our business and financial results and the matters described in the forward-looking statements in this press release. In addition, the statements and projections in this press release represent our expectations and beliefs as of the date of this document, and subsequent events and developments may cause these expectations, beliefs, and projections to change. We specifically disclaim any obligation to update any forward-looking statements. These forward-looking statements should not be relied upon as representing our expectations or beliefs as of any date subsequent to the date of this document.
