Company: PRMB
Filing Date: 2025-02-27
Form Type: S-1/A
Source: 0001193125-25-039341
Chunk: 109

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: S-1/A
Chunk 109
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 dividends, redeem stock, or make other distributions; (iii) make other restricted payments or investments; (iv) create liens on assets; (v) transfer or sell assets; (vi) create
restrictions on payment of dividends or other amounts by the Company to the Company’s restricted subsidiaries; (vii) engage in mergers or consolidations; (viii) engage in certain transactions with affiliates; and (ix) designate the
Company’s subsidiaries as unrestricted subsidiaries. Many of the covenants contained in the New Secured Indenture will not be applicable, and the guarantees of the New Unsecured Notes will be released, during any period when the New Unsecured
Notes have an investment grade rating.

The Amended Credit Agreement

Substantially concurrently with the issuance of the New Notes on the Early Settlement Date, the Company entered into the Fourth Amendment,
which amended the credit agreement governing the BlueTriton Term Loan

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Facility, by and among Triton Water Holdings, as borrower, Intermediate Holdings, the other entities identified as borrowers, the guarantors party thereto, Morgan Stanley Senior Funding, Inc., as
administrative and collateral agent, and the other lenders party thereto. The Fourth Amendment amended the BlueTriton Term Loan Credit Agreement to, among other things, (x) reprice the existing BlueTriton Term Loan Facility, and to make related
changes to effect such repricing, and (y) provide for the New Revolving Credit Facility.

Term Loan Facility

The Term Loan Facility consists of term loans denominated in U.S. dollars. Immediately following the Credit Facilities Transactions, the
Company had $3,098.0 million of outstanding borrowings under the Term Loan Facility, which will mature in March 2028. Borrowings under the Term Loan Facility will amortize in equal quarterly installments in an amount equal to 1.00% per annum of the
principal amount.

The interest rate margin applicable to borrowings under the Term Loan Facility will be, at the Company’s option,
either (1) the base rate (which is the highest of (x) the overnight federal funds rate, plus 0.50%, (y) the prime rate on such day, and (z) the one-month SOFR published on such date, plus 1.00%), plus an applicable margin, or (2) one-, three- or
six-month SOFR or, if available from all lenders, 12-month SOFR, or