Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 160

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 160
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imo Water’s aggregate availability.

On January 13, 2023, Primo Water entered into the Second LIBOR Transition Amendment to the Primo Water Credit Agreement, which replaced
interest rate calculations based on LIBOR with calculations based on SOFR. On July 11, 2024, Primo Water entered into the Third Amendment to the Primo Water Credit Agreement, which (i) extended the maturity date to September 30, 2026
with no change to the initial aggregate availability of $350.0 million, (ii) transitioned the benchmark interest rate applicable to eurocurrency rate loans denominated in Canadian Dollars from the CDOR to the CORRA, and (iii) provides
an exception to the restricted payments covenant for a one-time special dividend in conjunction with the Transaction. As of December 30, 2023, borrowings under the Primo Water Credit Agreement bore
interest at a rate per annum equal to either: (a) a euro currency rate as determined under the Primo Water Credit Agreement, plus the applicable margin, or (b) a term SOFR rate, as determined under the Primo Water Credit Agreement, plus
the applicable margin, (c) a base rate equal to the highest of (i) Bank of America’s prime rate, (ii) 0.5% per annum above the federal funds rate, and (iii) the term SOFR rate, as determined under the Primo Water Credit
Agreement, for a one month interest period, plus 1.0%, plus the applicable margin, or (d) an alternative currency daily or term rate, as determined under the Primo Water Credit Agreement, plus the applicable margin. The applicable margin for
euro currency, 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