- Mister Car Wash (NYSE:MCW) announced the completion of a series of related transactions in support of a comprehensive plan to refinance its capital structure.
- Through these transactions, the company extended its debt maturities and improved liquidity to support continued company growth.
- Upsized, amended & extended the $901 million Term Loan B to $925 million now due in 2031 and removed a 0.10% credit spread adjustment to the SOFR benchmark for all available interest periods.
- Upsized, amended & extended the $150 million Revolving Credit Facility to $300 million now due in 2029, removed a 0.10% credit spread adjustment to the SOFR benchmark for all available interest periods and reduced the cost of borrowings under the facility.
- Proceeds of the transaction were used to refinance the existing Mister Car Wash Term Loan B due in 2026 and the existing Mister Car Wash Revolving Credit Facility due in 2026
- MCW +1.94% premarket to $7.9
- Source: Press Release
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