Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 313

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 313
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 the term to maturity of the Senior Notes. At
September 30, 2024 and December 31, 2023, unamortized debt issuance costs related to the Senior Notes were $11.0 million and $12.6 million, respectively.

Revolver

Pursuant to its asset-based credit
agreement with the lenders party thereto, the Company maintains a Revolving Credit Facility (the “Revolver”) which expires on March 31, 2026. At September 30, 2024 and December 31, 2023 , there were no amounts outstanding
and $90.0 million outstanding, respectively. The unamortized debt issuance costs related to the Revolver were $1.9 million and $2.7 million as of September 30, 2024 and December 31, 2023, respectively, and are classified as
a component of other non-current assets.

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-60

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

|                                     |     |   | September 30, 
          2024 
   (Unaudited) |   |     |   | December 31, 
         2023 |   |
|:------------------------------------|:----|:--|--------------:|:--|:----|:--|-------------:|:--|
| Revolver availability:              |     |   |               |   |     |   |              |   |
| Gross availability                  |     | $ |         350.0 |   |     | $ |        350.0 |   |
| Less: Outstanding letters of credit |     |   |         (52.0 | ) |     |   |        (45.2 | ) |
| Net availability                    |     |   |         298.0 |   |     |   |        304.8 |   |
| Borrowings                          |     |   |             — |   |     |   |        (90.0 | ) |
| Available borrowing capacity        |     | $ |         298.0 |   |     | $ |        214.8 |   |

The Company is required to pay a commitment fee ranging from 0.25% to 0.375%, based on the