Company: STGW
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000876883-25-000024
Chunk: 75

Company: Stagwell Inc
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 75
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Total long-term debt$1,464,242 $1,353,624 Interest expense related to long-term debt included in Interest expense, net on the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2025 was $23.7 million and $46.4 million, respectively, and for the three and six months ended June 30, 2024 was $23.2 million and $43.5 million, respectively.

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The amortization of debt issuance costs included in Interest expense, net on the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2025 was $0.7 million and $1.4 million, respectively, and for the three and six months ended June 30, 2024 was $0.7 million and $1.4 million, respectively.Revolving Credit AgreementThe Company is party to a senior secured revolving credit facility with a five-year maturity with a syndicate of banks (the “Credit Agreement”). On April 23, 2025, the Company entered into the Second Amended and Restated Credit Agreement, which increased the limit of borrowing from $640 million to $750 million and extended the maturity date from August 3, 2026 to April 30, 2030. The Company recorded deferred financing cost related to the amendment of $3.6 million, which was included in Long-term debt on the Unaudited Consolidated Balance Sheets.The Credit Agreement contains a number of financial and non-financial covenants and is guaranteed by substantially all of our present and future subsidiaries, subject to customary exceptions. The Company was in compliance with all covenants as of June 30, 2025.A portion of the Credit Agreement in an amount not to exceed $50.0 million is available for the issuance of standby letters of credit. As of June 30, 2025 and December 31, 2024, the Company had issued undrawn outstanding letters of credit of $15.3 million and $15.3 million, respectively.Senior NotesThe Company had $1.1 billion aggregate principal amount of 5.625% senior notes (“5.625% Notes”) outstanding as of June 30, 2025. The 5.625% Notes are due August 15, 2029, and bear annual interest of 5.625% to be paid semiannually on February