Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 211

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 211
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uated the Proposed Amendments on the Early Settlement Date and, as a result, among other things, all shares of Class B common stock converted to Class A common stock and we are now deemed a “controlled company” within the meaning of the NYSE corporate governance standards. While we are a “controlled company” by such standards, we do not currently intend to rely on any of the related corporate governance exemptions. However, we may elect to rely on certain of these exemptions if they are available to us in the future. 

Substantially concurrently with the issuance of the New Notes on the Early Settlement Date, we (i) repaid all amounts outstanding, and terminated commitments, under the ABL Credit Facility, (ii) repaid all amounts outstanding, and terminated commitments, under the Revolving Credit Facility, and (iii) entered into an amendment, which amended the credit agreement governing the Term Loans to, among other things, (x) reprice the Term Loans and to make related changes to effect such repricing, and (y) provide for a new revolving credit facility (the “New Revolving Credit Facility,” and the transactions referred to in clauses (i) through (iii), the “Credit Facilities Transactions,” and, the Credit Facilities Transactions, together with the Offers and Consent Solicitations, collectively, the “Refinancing Transactions”).

On the Early Settlement Date, the Company announced that the Issuers completed the early settlement of the exchange of Existing Senior Notes validly tendered and accepted by the Issuers for a combination of New Notes of the applicable series and cash.

Pursuant to the Offers, after the early tender date and on or prior to the expiration date, the additional aggregate principal amounts of the Existing Senior Notes set forth below were validly tendered and expected to be accepted and subsequently cancelled on the Final Settlement date:

•€2,640,000 aggregate principal amount of the 3.875% Senior Notes;

•$120,000 aggregate principal amount of the 4.375% Senior Notes; and

•$13,688,000 aggregate principal amount of the 6.250% Senior Notes.

Following such cancellation, the aggregate principal amounts of the Existing Senior Notes set forth below are expected to remain outstanding:

•€8,123,000 aggregate principal amount of the 3.875% Senior Notes;

•$3,549,000 aggregate principal amount of the 4.375% Senior Notes; and

•$263,000 aggregate principal amount of the 6.250% Senior Notes