Holley’s paydowns on term loan total $65 million since September

By Mary-Katherine Stinson

Lexington, Ky., March 27 – Holley Inc. announced it paid down another $15 million of principal against its term loan facility, according to an 8-K filed with the Securities and Exchange Commission.

This debt reduction against Holley’s first-lien term loan was completed through repurchases at a discount to par in March. The company used cash on hand to fund the paydown.

The transaction aligned with the goals of Holley’s operational improvement plan, which aims to restore profitability, improve free cash flow and optimize working capital.

Combined with a previous paydowns totaling $50 million in 2023, Holley has reduced the principal amount outstanding under its first-lien term loan by $65 million since September, allowing Holley to recognize up to an estimated $2.5 million in annualized net interest savings.

Holley is a Bowling Green, Ky.-based platform in the performance enthusiast automotive aftermarket space.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.