Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 62

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 62
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 Indebtedness” and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations of Primo Water—Other Liquidity Matters—Debt.”

32

Subject to the limits contained in the BlueTriton Senior Secured Credit Facilities, the indenture governing the BlueTriton Senior Notes (each as defined below), the Primo Indentures, the Primo Water Credit Agreement (as defined below), the Primo Water Revolving Credit Facility (as defined below), and our other debt instruments, we may incur substantial additional debt from time to time to finance working capital, capital expenditures, investments, or acquisitions or for other purposes. If we do so, the risks related to our substantial level of debt would further increase. Specifically, our substantial indebtedness could negatively impact our business, including:

| • |     | making it more difficult for us to satisfy our obligations under our debt instruments, and events of default 
 could result if we fail to comply with these obligations;                                                    |

| • |     | limiting our ability to obtain additional financing to fund future working capital, capital expenditures, 
 investments, or acquisitions or other general corporate purposes;                                         |

| • |     | requiring a substantial portion of our cash flows to be dedicated to debt service payments instead of other                                                                 
 purposes, thereby reducing the amount of cash flows available for working capital, capital expenditures, investments, or acquisitions and other general corporate purposes; |

| • |     | increasing our vulnerability to general adverse economic and market conditions, including inflation and rising 
 interest rates;                                                                                                |

| • |     | exposing us to the risk of increased interest rates as certain of our borrowings, including borrowings under the              
 BlueTriton Senior Secured Credit Facilities and the Primo Water Revolving Credit Facility, are at variable rates of interest; |

| • |     | limiting our flexibility in planning for and reacting to changes in the markets in which we compete and to 
 changing business and economic conditions;                                                                 |

| • |     | restricting us from making strategic acquisitions or causing us to make                                  
 non-strategic divestitures in order to generate cash proceeds necessary to satisfy our debt obligations; |

| • |     | impairing our ability to obtain additional financing in the future; |

| • |     | preventing us from raising the funds necessary to repurchase all BlueTriton Senior Notes or Primo Senior Notes                                                                                                         
 tendered to us upon the occurrence of certain changes of control, which failure to repurchase would constitute an event of