Magnite Successfully Completes Term Loan and Revolving Credit Facility Repricing

The term loan rate is now cumulatively 250 basis points below its level before the February 2024 refinancing.

Rhea-AI Summary

Magnite (NASDAQ: MGNI) completed repricing of its term loan and revolving credit facility, lowering borrowing rates on both facilities.

The $358 million term loan rate fell 50 basis points to Term SOFR + 2.50%, from + 3.00%. SOFR is a reference interest rate. Magnite expects approximately $1.8 million in annualized cash interest savings. The loan remains due in February 2031, with other terms substantially unchanged.

The $175 million revolving facility margin fell 100 basis points to 2.5%–3.0%, from 3.5%–4.0%, over Term SOFR. It matures in February 2029, and other material terms remain substantially unchanged.

Positive

• Minor pointTerm loan rate reduced 50 basis points to Term SOFR + 2.50%, from + 3.00%.
• Minor point. Forward-looking: it has not happened yet and may not happen.Annualized cash interest savings expected to total approximately $1.8 million from the term loan repricing.
• Minor pointRevolving facility margin reduced 100 basis points to 2.5%–3.0%, from 3.5%–4.0%, over Term SOFR.

Negative

• None.

Key Figures

Term loan principal: $358 million Term loan rate reduction: 50 basis points, to Term SOFR + 2.50% from Term SOFR + 3.00% Annualized interest savings: Approximately $1.8 million +3 more

Term loan principal

$358 million

Senior secured term loan; due February 2031

Term loan rate reduction

50 basis points, to Term SOFR + 2.50% from Term SOFR + 3.00%

Current repricing

Annualized interest savings

Approximately $1.8 million

From the term loan rate reduction

Cumulative term loan rate reduction

250 basis points

Compared with the rate before the February 2024 refinancing

Revolving credit facility

$175 million

Senior secured facility; matures in February 2029

Revolving facility margin

Reduced by 100 basis points, to 2.5%–3.0% from 3.5%–4.0%

Margin over Term SOFR

Key Terms

term loan b, revolving credit facility, term sofr, basis points

4 terms

term loan b financial

"Reduces Term Loan B Interest Rate by an Additional 50 Basis Points"

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.

revolving credit facility financial

"repricing of its $175 million senior secured revolving credit facility"

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.

term sofr financial

"to Term SOFR + 2.50% (from Term SOFR + 3.00%)"

Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.

basis points financial

"reduces the interest rate by 50 basis points"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Reduces Term Loan B Interest Rate by an Additional 50 Basis Points 

Generates Approximately $1.8 Million in Annualized Interest Savings

NEW YORK, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, today announced the third successful repricing of its $358 million senior secured term loan facility (Term Loan) due February 2031 and the repricing of its $175 million senior secured revolving credit facility (Revolving Credit Facility) that matures in February 2029.

The Term Loan repricing reduces the interest rate by 50 basis points to Term SOFR + 2.50% (from Term SOFR + 3.00%). The rate reduction will yield approximately $1.8 million in annualized cash interest savings. The interest rate improvement represents a cumulative reduction of 250 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.

In addition, the interest rate margin under the $175 million Revolving Credit Facility was reduced by 100 basis points. Borrowings under the Revolving Credit Facility will now bear interest at Term SOFR plus a margin ranging from 2.5% - 3.0%, a reduction from the previous margin range of 3.5% - 4.0%. All other material terms remain substantially unchanged.

"The successful repricing of both our Term Loan B and Revolving Credit Facility reflects the continued strength of our balance sheet, robust cash flow generation, and the ongoing confidence of our lending partners in Magnite's long-term growth trajectory," said Brian Gephart, CFO of Magnite. "By driving down our borrowing costs across both facilities, we have reduced our annualized interest expense by an additional $1.8 million. Lowering our cost of capital provides us with enhanced financial flexibility while better optimizing value for our shareholders."

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much interest will Magnite save from its term loan repricing?

Magnite expects approximately $1.8 million in annualized cash interest savings from the term loan repricing. The rate on the $358 million facility declined by 50 basis points to Term SOFR + 2.50%, from Term SOFR + 3.00%.

How much has Magnite reduced its term loan interest rate since before the February 2024 refinancing?

Magnite's term loan interest rate has declined cumulatively by 250 basis points compared with the rate before its February 2024 refinancing. The latest transaction was the third repricing and reduced the rate by an additional 50 basis points.