Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Magnite ( (MGNI) ) just unveiled an announcement.
Magnite, Inc., a leader in sell-side advertising, has successfully repriced its term loan, reducing the interest rate by 75 basis points, to Term SOFR + 3.75%. This strategic financial move is projected to save the company over $2.7 million in annual interest payments, without altering the loan’s maturity or other terms. This savvy financial maneuver underscores Magnite’s commitment to fiscal efficiency and operational excellence, strengthening its market position without affecting its convertible notes or revolving credit facility.
Find detailed analytics on MGNI stock on TipRanks’ Stock Analysis page.