Janus International Group Successfully Completes Term Loan Repricing
Janus International Group, a leading provider of access control technologies, has successfully completed a repricing of its first lien term loan. The repricing reduces the applicable interest rate on the $600 million loan by 50 bps, improving the Company's financial position. Additionally, the Company prepaid $21.9 million of its First Lien Term Loan due 2030. The market demand and lender support for the repricing reflect positively on Janus International Group's financial stability and strategic planning.
The successful repricing of the first lien term loan by Janus International Group reflects strong market demand and lender support, showcasing the Company's financial stability and strategic planning.
The reduction in the applicable interest rate on the $600 million loan by 50 bps will lower the Company's annual interest expense, enhancing financial flexibility and potentially driving total shareholder return.
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The repricing, which was privately placed with institutional lenders in the syndicated loan market, reduces the applicable interest rate on the
“We are pleased with the strong market demand and lender support for our first lien term loan repricing,” said Anselm Wong, Executive Vice President and Chief Financial Officer. “This strategic repricing, which will lower our annual interest expense, is another proactive step to ensure we are well positioned to have the financial flexibility to continue to execute on our long-term outlook and drive total shareholder return.”
About Janus International Group
Janus International Group, Inc. (www.JanusIntl.com) is a leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including roll-up and swing doors, hallway systems, re-locatable storage units and facility and door automation technologies. The Janus team operates out of several
Forward Looking Statements
Certain statements in this communication may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this communication are forward-looking statements, including, but not limited to statements regarding Janus’s belief regarding the demand outlook for Janus’s products and the strength of the industrials markets. When used in this communication, words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions, as they relate to the management team, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Janus’s management, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements.
In addition to factors previously disclosed in Janus’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks of the self-storage industry; (ii) the highly competitive nature of the self-storage industry and Janus’s ability to compete therein; (iii) litigation, complaints, and/or adverse publicity; (iv) cyber incidents or directed attacks that could result in information theft, data corruption, operational disruption, and/or financial loss; and (v) the risk that the demand outlook for Janus’s products may not be as strong as anticipated.
There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Janus is not under any obligation and expressly disclaims any obligation to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Janus and is not intended to form the basis of an investment decision in Janus. All subsequent written and oral forward-looking statements concerning Janus or other matters and attributable to Janus or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and under the heading “Risk Factors” in Janus’s most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as updated from time to time in amendments and its subsequent filings with the SEC.
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Investors, Janus
Sara Macioch
Senior Director, Investor Relations, Janus International
770-562-6399
IR@janusintl.com
Media, Janus
Suzanne Reitz
Vice President of Marketing, Janus International
770-746-9576
Marketing@Janusintl.com
Source: Janus International Group, Inc.
FAQ
<p>What is the stock symbol of Janus International Group?</p>
The stock symbol of Janus International Group is JBI.
<p>What was the outcome of the repricing of Janus International Group's first lien term loan?</p>
The repricing reduced the applicable interest rate on the $600 million first lien term loan by 50 bps, improving the Company's financial position.
<p>How much of its First Lien Term Loan did Janus International Group prepay during the second quarter?</p>
Janus International Group prepaid $21.9 million of its First Lien Term Loan due 2030 during the second quarter.
