Magnite Successfully Completes Second Term Loan Repricing

Rhea-AI Summary

Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, has announced a second successful repricing of its $363 million senior secured term loan facility due February 2031. The repricing reduces the interest rate by 75 basis points to Term SOFR + 3.00% from the previous rate of Term SOFR + 3.75%, resulting in yearly interest savings of over $2.7 million.

This interest rate improvement represents a cumulative reduction of 200 basis points compared to the rate prior to the refinancing of the Term Loan in February 2024. The maturity date and other terms remain substantially unchanged.

Positive

• Interest rate reduction of 75 basis points on $363M term loan
• Annual interest payment savings of $2.7 million
• Cumulative interest rate reduction of 200 basis points since February 2024

Negative

• None.

Reduces Interest Rate by an Additional 75 Basis Points

Over $2.7 Million in Yearly Interest Payment Savings

NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, today announced the second successful repricing of its $363 million senior secured term loan facility (Term Loan) due February 2031.

The repricing reduces the interest rate by 75 basis points to Term SOFR + 3.00% from the previous rate of Term SOFR + 3.75% and will result in yearly interest savings of over $2.7 million. The interest rate improvement represents a cumulative reduction of 200 basis points compared to the rate prior to the refinancing of the Term Loan in February of 2024. There are no changes to the maturity of the Term Loan following this repricing, and all other terms are substantially unchanged.

About Magnite

We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Investor Relations Contact
Nick Kormeluk
(949) 500-0003
nkormeluk@magnite.com

FAQ

How much will Magnite (MGNI) save annually from the latest term loan repricing?

Magnite will save over $2.7 million annually in interest payments from the latest term loan repricing.

What is the new interest rate for Magnite's (MGNI) term loan after the March 2024 repricing?

The new interest rate is Term SOFR + 3.00%, reduced from Term SOFR + 3.75%.

When does Magnite's (MGNI) repriced term loan mature?

The term loan matures in February 2031, with no changes to the maturity date following the repricing.

What is the total interest rate reduction achieved by Magnite (MGNI) since February 2024?

Magnite has achieved a cumulative interest rate reduction of 200 basis points since February 2024.

What is the size of Magnite's (MGNI) repriced term loan facility?

Magnite's senior secured term loan facility is $363 million.