RealReal Refinances 2029 Notes With New Credit Facilities

MT Newswires Live10-15

RealReal (REAL) said Thursday it has obtained a $150 million term loan and a $25 million revolving credit facility to refinance its senior secured notes due 2029.

The term loan will be used to redeem the 2029 notes at par, with funding and redemption expected around Oct. 19, the company said. The facilities funded by Fortress Investment Group carry an initial interest rate of SOFR plus 5.75% and will mature in October 2033, RealReal said.

The refinancing is expected to reduce annual interest expense by about $4 million in the first year and provide additional liquidity, according to the company.

RealReal shares were up 6.8% in Thursday trading.

Price: 9.72, Change: +0.62, Percent Change: +6.76

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment