Magnite Successfully Completes Second Term Loan Repricing
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.
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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.
Details
News Market Reaction – MGNI
The recorded move for MGNI in the trading session of this news was +5.28%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Reduces Interest Rate by an Additional 75 Basis Points
Over
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
The repricing reduces the interest rate by 75 basis points to Term SOFR +
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
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