Janus International Group Successfully Completes Term Loan Repricing
April 30, 2024 at 09:15 pm
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Janus International Group, Inc. announced a repricing of its first lien term loan. The repricing, which was privately placed with institutional lenders in the syndicated loan market, reduces the applicable interest rate on the $600 million first lien term loan by 50 bps from SOFR + 300 bps + CSA to SOFR + 250 bps. There are no changes to the maturity of the first lien term loan following this repricing and all other terms are substantially unchanged.
Additionally, the Company announced that during the second quarter it elected to prepay $21.9 million of its First Lien Term Loan due 2030.
Janus International Group, Inc. is a manufacturer, supplier, and provider of turn-key self-storage, commercial, and industrial building solutions. The Company operates through two geographic segments: Janus North America and Janus International. The Janus North America segment is comprised of all the other entities, including Janus International Group, LLC, Betco, Inc., Noke, Inc., Asta Industries, Inc., DBCI, LLC, Access Control Technologies, LLC, Janus Door, LLC, and Steel Door Depot.com, LLC. The Janus International segment is comprised of Janus International Europe Holdings Ltd. (UK). Its production and sales are in Europe and Australia. The Company provides facility and door automation and access control technologies, roll up and swing doors, hallway systems, and relocatable storage Moveable Additional Storage Structures units. It is comprised of three sales channels, including New Construction-Self-storage, R3-Self-storage, and Commercial and Other.