Company: PRMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0002042694-25-000007
Chunk: 20

Company: Primo Brands Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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ized debt issuance costs and discount related to the 6.250% Senior Notes were $11.7 million and $10.6 million, respectively.3.875% Senior NotesPursuant to an indenture, dated as of February 12, 2025 (the "Secured Indenture"), the Issuers co-issued €441.9 million ($477.4 million at exchange rates in effect on March 31, 2025) of 3.875% Senior Notes due October 31, 2028 to holders who participated in the Exchange Offers. The 3.875% Senior Notes are guaranteed by the Company and substantially all of the 

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Company's wholly-owned domestic subsidiaries, subject to certain customary exceptions (together with the Company, the "Guarantors"). Interest is payable semi-annually on April 30 and October 31 of each year, commencing on April 30, 2025.The issuance of the 3.875% Senior Notes resulting from the Exchange Offers was accounted for as a modification under GAAP and $1.2 million of fees were recorded as an unamortized debt discount which is being amortized over the remaining term of the 3.875% Senior Notes. As of March 31, 2025, the unamortized discount was $1.1 million included within the Unamortized debt costs and discounts line in the table above.During 2024, in connection with the Transaction, the Company recorded the difference between the carrying value of the Original 3.875% Senior Notes and the fair value as of the date of the Transaction as an unamortized discount of $9.2 million, which is being amortized using the effective interest method at an effective interest rate of 4.42% and recorded in Interest and financing expense, net on the Condensed Consolidated Statements of Operations over the remaining term of the 3.875% Senior Notes.As of March 31, 2025, the unamortized discount for the 3.875% Senior Notes resulting from the Transaction and netted with the principal in the table above was $8.4 million. As of December 31, 2024, the unamortized discount for the Original 3.875% Senior Notes resulting from the Transaction and netted with the principal in the table above was $8.9 million. 4.375% Senior NotesPursuant to the