Insulet (PODD) has released an update to notify the public and investors about an entry into a material definitive agreement.
Insulet Corporation amended its Credit Agreement on January 24, 2024, replacing $487.5 million in term loans with new ones at a lower interest rate and similar terms, and used the proceeds plus cash on hand to refinance the existing loans. The amendment also reduced the interest rate margin for both new term and revolving facility loans, with the latter’s rate now varying based on the Company’s leverage ratio. The maturity dates for both loan types remain the same, and the credit spread adjustment was eliminated.
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