Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 123

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 123
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 2028 Notes, issued pursuant to that certain Indenture, dated as of October 22, 2020, by and among the Issuer, the guarantors party thereto, BNY Canada, as Canadian trustee, BNY US, as U.S.
trustee, and The Bank of New York Mellon, London Branch, as London paying agent , and (ii) the Primo 2029 Notes, issued pursuant to that certain Indenture, dated as of April 30, 2021, by and among the Issuer, the guarantors party thereto,
BNY Canada, as Canadian trustee, and BNY US, as U.S. trustee, paying agent, registrar, transfer agent, and authenticating agent.

Future Sources and Uses of Liquidity

We believe that a combination of cash generated from operating activities, undrawn availability under the
BlueTriton ABL Credit Facility and the Primo Water Revolving Credit Facility, and borrowings under the historical debt instruments of BlueTriton and Primo Water that remain outstanding, will provide sufficient liquidity to support our working
capital needs, planned growth, and capital expenditure needs, service the ongoing principal and interest payments on the indebtedness of Primo Brands and its subsidiaries, along with our other funding and investment requirements for the next 12
months and for the foreseeable future. However, we do not expect to generate sufficient cash from operations to repay at maturity the entirety of the then-outstanding balances of our indebtedness, including the BlueTriton Term Loan Facility that is
expected to mature in 2028, the BlueTriton Senior Notes that are expected to mature in 2029, and the Primo Senior Notes that are expected to mature in 2028 and 2029, as applicable. As a result, we will then be dependent upon our ability to refinance
such indebtedness or access the credit markets or source additional equity investments to repay the outstanding balances of our indebtedness. Failure to raise sufficient amounts of funding to repay these obligations or to refinance on beneficial
terms at maturity would adversely affect our financial condition.

We or our affiliates, may from time to time seek to repurchase or
retire outstanding debt through cash purchases and/or exchanges for equity securities, in open market purchases, privately negotiated transactions, tender offers, or otherwise. Any future repurchases or exchanges, if any, will depend on prevailing
market conditions, the Company’s liquidity, contractual restrictions, and other factors. The amounts