Legence Reprices $995 Million Term Loan Credit Facility

MT Newswires Live05-28

Legence (LGN) said Thursday it has amended its $995 million term loan credit facility, reducing the applicable interest rate to the secured overnight financing rate plus 2.00%, representing a 25 basis point reduction.

Legence said the rate will drop further, to SOFR plus 1.75%, if it receives a one notch upgrade to its corporate credit rating from either major credit rating agency.

The amendment also provides for a reset of the 6-month 101% soft call protection applicable to certain repricing transactions, the company said.

Legence shares were down more than 3% in Thursday trading.

Price: 83.91, Change: -4.09, Percent Change: -4.65

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