TOPGOLF CALLAWAY BRANDS CORP. Topgolf Callaway Brands Corp. announced the repricing of its term loan, thereby lowering its future interest costs. Successfully repriced the existing $1.24 billion Topgolf Callaway Brands first-lien term loan due 2030.
Lowered the Topgolf Callaway Brands first-lien term loan interest rate by 50 basis points, to SOFR +300, and eliminated the 10-basis point credit spread adjustment (CSA) for a total reduction of 60 basis points. Interest expense savings expected to be greater than $7 million on an annualized basis. Bank of America, N.A., JPMorgan Chase Bank, N.A., MUFG Securities Americas Inc., and Truist Securities Inc. acted as Joint Lead Arrangers and Joint Bookrunners.
