Company: DXPE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001020710-25-000036
Chunk: 23

Company: DXP ENTERPRISES INC
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7A
Chunk 23
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 maturities(6,595)(5,500)Total long-term debt642,281 543,125 Unamortized discount and debt issuance costs20,597 22,428 Long-term debt, net of unamortized discount and debt issuance costs$621,684 $520,697 (1) The fair value of the Amended Term Loan B due October 13, 2030 using level 2 input values was $657.6 million  as of December 31, 2024. (2) The fair value of the Term Loan B due October 13, 2030 using level 2 input values was $554.1 million as of December 31, 2023. Senior Secured Term Loan B:On October 3, 2024, the Company entered into an amendment on its existing Senior Secured Term Loan B (the “Term Loan Amendment”), which provides for, among other things, an additional $105.0 million in new incremental commitments. The Term Loan Amendment refinanced the existing Senior Term Loan B and replaced it with an Amended Senior Secured Term Loan B with total borrowings of $649.5 million. The Amended Senior Secured Term Loan B amortizes in equal quarterly installments of 0.25%, with the remaining balance being payable on October 13, 2030, when the facility matures. As of December 31, 2024 there was $647.9 million outstanding under the Amended Senior Secured Term Loan B.Interest rate Quarterly interest payments accrue on outstanding borrowings under the Amended Senior Secured Term Loan B at a rate equal to Term SOFR (with a floor of 1.00%) plus 3.75%, or base rate plus 2.75%. The Amended Senior Secured Term Loan B is guaranteed by each of the Company’s direct and indirect material wholly owned subsidiaries, other than any of the Company’s Canadian subsidiaries and certain other excluded subsidiaries.The interest rate for the Amended Senior Secured Term Loan B was 8.32% as of December 31, 2024. The interest rate for the Senior Secured Term Loan B was 10.44% as of December 31, 2023Facility Size IncreasesThe Amended Senior Secured Term Loan B allows for incremental increases in facility size up to an aggregate of $100 million. PrepaymentsWe are required to repay the Amended Senior Secured Term Loan B with