Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 52

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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50%, or 1.75%, based on the Average Excess Availability (as defined in the 2023 LOC Agreement). As of March 29, 2025, the SOFR Margin Rate was 1.50%. As of March 29, 2025 and December 28, 2024, the interest rate in effect for the facility was 5.89% and 5.92%, respectively. The line of credit is collateralized by accounts receivable and inventories. The Company accrues an unused commitment fee to the administrative agent at the varying rate of 0.25% to 0.38%, based on the unused portion of the maximum commitment, as defined in the 2023 LOC Agreement. The Company incurred $1.3 of debt issuance costs, which were capitalized and are being amortized over the term of the facility that expires on August 3, 2028, using the straight-line method, and are presented as part of other assets within our Unaudited Condensed Consolidated Balance Sheet. The amortization of the deferred loan costs is included in interest expense, net on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income. Amortization of approximately $0.1 was recognized for both three month periods ended March 29, 2025 and March 30, 2024. The unamortized portion of the fees as of March 29, 2025 and December 28, 2024, was approximately $0.8 and $0.9, respectively. There were no borrowings outstanding on the line of credit as of March 29, 2025 and December 28, 2024. As of March 29, 2025 and December 28, 2024, the Company maintained one letter of credit totaling approximately $0.4 on which there were no balances due. As of March 29, 2025 and December 28, 2024, the Company’s borrowing base capacity was approximately $76.3.

16

Janus International Group, Inc.Notes to Unaudited Condensed Consolidated Financial Statements

9. Long-Term Debt

Long-term debt consists of the following:(dollar amounts in millions)March 29, 2025December 28, 2024Note payable - First Lien$557.0 $598.5 Financing leases3.8 3.4 $560.8 $601.9 Less: