Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 299

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 299
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 fix the rate for a period of one, three or six months, depending on the Company’s interest period election. The
interest rate on the Revolver Loans outstanding at December 31, 2023 was 7.14%.

The borrowing capacity is determined monthly based on a calculation
taking into account certain current assets and liabilities of the Company. Amounts available for borrowing are reduced by letters of credit outstanding.

F-33

The following table summarizes amounts available for borrowing under the Revolver (in millions) (Successor):

| Revolver availability:              |     | December 31, 
 2023         |       |   |     | 2022 |       |   |
|:------------------------------------|:----|:-------------|------:|:--|:----|:-----|------:|:--|
| Gross availability                  |     | $            | 350.0 |   |     | $    | 350.0 |   |
| Less: Outstanding letters of credit |     |              | (45.2 | ) |     |      | (21.1 | ) |
| Net availability                    |     |              | 304.8 |   |     |      | 328.9 |   |
| Borrowings                          |     |              | (90.0 | ) |     |      |     — |   |
| Available borrowing capacity        |     | $            | 214.8 |   |     | $    | 328.9 |   |

The Company is required to pay a commitment fee ranging from 0.25 to 0.375%, based on the Company’s average daily total utilization of the Revolver. Debt Covenants The First Lien Credit Agreement, the indenture governing the Senior Notes and the Revolver contain certain affirmative and negative covenants that, among other things, limit the Company’s ability to, subject to various exceptions and qualifications: (i) incur liens; (ii) incur additional debt; (iii) sell, transfer or dispose of assets; (iv) merge with or acquire other companies; (v) make loans; (vi) make investments; (vii) make dividends and distributions on, or repurchases of, equity; (viii) enter into certain transactions with affiliates; and (ix) other miscellaneous restrictions. As of December 31, 2023, the Company was compliant with all affirmative and negative covenants. The Revolver also requires the Company to maintain a fixed