Company: PRMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0002042694-25-000007
Chunk: 23

Company: Primo Brands Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 (ix) designate the Company's subsidiaries as unrestricted subsidiaries. The covenants are substantially similar across each series of the New Notes. Many of the covenants contained in the Secured Indenture and Unsecured Indenture will not be applicable, and the guarantees of the New Notes will be released, during any period where the New Notes have an investment grade rating. In connection with the Exchange Offers, substantially all of the restrictive covenants, certain of the default provisions, and certain other provisions contained in the indentures governing the Original Notes were eliminated.The Company was in compliance with all covenants as of March 31, 2025.The following tables summarize amounts available for borrowing under the revolving credit facilities as of the periods presented:March 31, 2025($ in millions)Revolving Credit FacilityRevolver availability:Revolver committed availability$750.0Less: Outstanding letters of credit(138.5)Net availability611.5Borrowings—Available borrowing capacity$611.5 December 31, 2024($ in millions)ABL Credit FacilityOriginal Revolving Credit AgreementTotalRevolver availability:Gross availability$350.0$350.0$700.0Less: Adjustment for gross availability(14.8)—(14.8)Less: Outstanding letters of credit(51.6)(65.4)(117.0)Net availability283.6284.6568.2Borrowings———Available borrowing capacity$283.6 $284.6 $568.2 

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Table of Contents

NOTE 7—STOCKHOLDERS' EQUITY 

Preferred StockAs of March 31, 2025, the Company's Amended and Restated Certificate of Incorporation (the "Certificate") authorized the issuance of 100,000,000 shares of preferred stock, par value $0.01 per share. As of March 31, 2025 and December 31, 2024, there were no shares of preferred stock issued or outstanding.Shares of preferred stock may be issued from time to time in one or more series by the Company's Board of Directors and the Board of Directors is responsible for establishing the designation of such series and the number of shares to be included in such series and fixing the terms of such series, the voting powers (full or limited, or no voting powers), preferences and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions thereof, of the shares