Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 1

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7A
Chunk 1
---
 fluctuations in the price of steel locking in prices and will continue to do so in the future. We have not entered into hedges with respect to our raw material costs at this time, but we may choose to enter into such hedges in the future.

Interest Rate Exposure

As indicated in Note 10, Long-term Debt, of Janus’s consolidated financial statements, for the year ended December 28, 2024, outstanding borrowings under its credit facilities include a First Lien term loan. On August 3, 2023, the Company refinanced its existing First Lien Term Loan pursuant to Amendment No. 6 First Lien. The loan was made by a syndicate of lenders, with the aggregate amount of $625.0. As chosen by the Company, the amended loan bears interest at a floating rate per annum consisting of Adjusted Term SOFR plus an applicable margin. The interest rate on the Amendment No. 6 First Lien term loan as of December 30, 2023, was 7.07%, which is a variable rate based on Adjusted Term SOFR, subject to a 1.00% floor, and includes a 0.10% CSA and an applicable margin of 3.25%. On April 30, 2024, the Company completed a repricing pursuant to the Repricing Amendment to the First Lien Term Loan. The Repricing Amendment reduced the applicable interest rate margins on the $600.0 First Lien Term Loan from 2.00% to 1.50% for the term loans bearing interest at rates based on the base rate, and from 3.00% to 2.50% for the term loans bearing interest at rates based on the SOFR rate. In addition to the change in the applicable margin rate, the Company is no longer subject to a CSA rate of 0.10%. Interest is payable in arrears (with respect to base rate loans) or at the end of an interest period selected by the Company (with respect to SOFR loans). The interest rate on the First Lien Term Loan as of December 28, 2024, was 7.07%, which is a variable rate based on Adjusted Term SOFR and includes an applicable margin percentage of 2.50%.

As indicated in Note 9, Line of Credit, of Janus’s consolidated financial statements, Janus also has a $125.0 revolving credit facility with a financial institution. On August 3,