Teamshares Refinances $150M Facility, Expects About $8M in Annual Interest Savings
Teamshares repaid a $150 million facility with a new $130 million term loan priced at SOFR+9.5% and cash, and began repaying $17 million of mezzanine debt. It expects about $5 million in annual interest savings from the loan and about $3 million from the mezzanine repayment at current SOFR.
Teamshares used a new $130M term loan priced at SOFR+9.5% and cash to repay its $150M facility, and has started paying down $17M of mezzanine debt. At current SOFR, the company expects the loan to reduce annual interest expense by about $5M, with mezzanine repayment adding about $3M in savings.