- Regis (RGS) entered a new senior secured credit facility with TCW Asset Management Company, whereby a $105M term loan replaces the company’s existing debt, reducing outstanding indebtedness by more than $80M and saving ~$7M in cash interest annually.
- In addition to the term loan, the company will have access to a $25M revolving credit facility.
- The new revolving credit facility and term loan will mature on June 24, 2029. Upon transition of the Company’s outstanding letters of credit to the new revolving credit facility, the Company expects to have full access to the availability in excess of the outstanding letters of credit.
2024-06-25