Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 154

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 154
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 term SOFR, and alternative currency rate loans ranges from 1.375% to 2.000% and the applicable margin for base rate loans ranges from 0.375% to 1.000%, in each case depending on Primo Water’s consolidated total leverage ratio.
Unutilized commitments under the Primo Water Credit Agreement are subject to a commitment fee ranging from 0.20% to 0.30% per annum depending on Primo Water’s consolidated total leverage ratio, payable on a quarterly basis.

The Primo 2029 Notes

On
April 30, 2021, Primo Water issued the Primo 2029 Notes to qualified purchasers in a private placement offering under Rule 144A under the Securities Act and outside the United States to non-U.S.
purchasers pursuant to Regulation S under the Securities Act and other applicable laws. The Primo 2029 Notes were issued by Primo Water’s wholly-owned subsidiary Primo Water Holdings Inc. The Primo 2029 Notes are guaranteed by Primo

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Water and certain subsidiaries that are currently obligors under the Primo Water Revolving Credit Facility and the Primo 2028 Notes. The Primo 2029 Notes will mature on April 30, 2029, and
interest is payable semi-annually on April 30 and October 31 of each year commencing on October 31, 2021. The proceeds of the Primo 2029 Notes, along with available cash on hand, were used to redeem in full the Primo 2025 Notes. The
redemption of the Primo 2025 Notes included $20.6 million in premium payments, accrued interest of $3.6 million, and the write-off of $6.6 million in deferred financing fees.

Primo Water incurred approximately $11.2 million of financing fees for the issuance of the Primo 2029 Notes. The financing fees are being
amortized using the effective interest method over an eight-year period, which represents the term to maturity of the Primo 2029 Notes.

The Primo 2028 Notes

On October 22, 2020, Primo Water issued €450.0 million ($499.4 million at exchange rates in effect
on December 30, 2023) of the Primo 2028 Notes to qualified purchasers in a private placement offering under Rule 144A under the Securities Act, and outside the United States to non-U.S.