Karman Completes Refinancing Deal

, MT Newswires -  9:23 AM ET 4/1/2025 Company News

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09:23 AM EDT, 04/01/2025 (MT Newswires) -- Karman ( KRMN ) said Tuesday it completed a refinancing deal that replaces its previous term loan and revolving credit facility.

The company said the new credit facilities include a $300 million term loan B maturing in April 2032 and priced at secured overnight finance rate plus 3.5%, and an undrawn $50 million revolving credit facility expiring in April 2030 and priced at SOFR plus 2.75% to 3.25%.

In the case of the new term loan, the refinancing represents an interest rate reduction of 275 basis points, resulting in annual interest expense savings of over $8 million compared with the previous term loan, the company said.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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