Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 212

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 212
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53

Debt

The following table summarizes our total debt in the Consolidated Balance Sheets as of the periods presented (prior to the Refinancing Transactions described above):

December 31,($ in millions)20242023Term Loans$3,098.6 $2,730.6 6.250% Senior Notes713.0 713.0 3.875% Senior Notes1459.8 — 4.375% Senior Notes1710.0 — ABL Credit Facility— 90.0 Finance lease obligations (see Note 8 "Leases")100.2 10.0 Other 11.4 6.5 Unamortized debt costs and discounts(64.9)(67.5)Total debt$5,028.1 $3,482.6 Less: Current portion of long term debt64.5 31.9 Long-term debt, less current portion$4,963.6 $3,450.7 

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1     The outstanding aggregate principal amounts of the 3.875% Senior Notes and the 4.375% Senior Notes are net of unamortized discounts of €8.6 million ($8.9 million at exchange rates in effect on December 31, 2024) and $40.0 million, respectively, as of December 31, 2024. Refer to the sections below for additional details related to the discounts. 

Description of Certain Indebtedness

The following is a description of our current and former indebtedness. The following summary of certain provisions of these agreements that govern our existing indebtedness does not purport to be complete and may not contain all of the information that is important to you, and is subject to, and qualified in its entirety by reference to, all of the provisions of the corresponding agreements.

Amended Credit Agreement

Triton Water Holdings and Intermediate Holdings, both wholly-owned subsidiaries of the Company entered into a Term Loan Agreement (as amended, inclusive of the Fourth Amendment to the First Lien Credit Agreement, dated as of February 12, 2025, the “Amended Credit Agreement” and such loans thereunder, the “Term Loans”) on March 31, 2021 with a group of lenders and Morgan Stanley Senior Funding, Inc., as administrative and collateral agent, under which we borrowed term loans in an aggregate principal amount of $2,550.0 million. The Term Loans have