Packaged food producer Post Holdings Inc. said March 8 that it completed a repricing of its existing term loan of about $2.2 billion, which was accomplished by making an amendment to its credit agreement.
Through the move, the loan's interest rate was reduced by 0.25% to the eurodollar rate plus 2%, or the base rate plus 1%. The company expects the repricing to lower the annual cash interest by around $5 million.
All other provisions of the credit agreement remain the same, including the term loan maturity date of May 24, 2024.
