Magnite, Inc. announced the successful repricing of its US$358 million senior secured term loan facility due 2031 and its US$175 million senior secured revolving credit facility due 2029. The transactions reduced the interest rate on Magnite’s term loan by an additional 50 basis points and lowered the interest rate margin on the revolving credit facility by 100 basis points, generating approximately US$1.8 million in annualized interest savings while preserving the existing maturities and substantially all other material terms.
Latham & Watkins LLP advised Magnite in the transaction with a finance team led by Washington, D.C. partner Scott Forchheimer, with associates Jen Goldshtein, Kendall Crawford, and Nina Puchalski. Advice was also provided on tax matters by New York partner Aaron Bernstein.
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