PLBY Group announces $70M debt paydown

PLBY Group announced that it amended its senior secured credit agreement and has made prepayments under the Credit Agreement in the aggregate amount of $70 million, resulting in the Company securing a waiver of applicable net leverage ratio covenants through the second quarter of 2024. The Company used $45 million of the proceeds from its previously announced $65 million capital raise for repayment of senior debt under the Credit Agreement. With such repayment, along with the $25 million repaid in December 2022, the Company has repaid $70 million of the senior debt in the past three months. The Company’s current outstanding senior debt under the Credit Agreement is approximately $157 million.