Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 126

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 126
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imo 2028 Notes are guaranteed by Primo Water and certain subsidiaries that are
currently obligors under the Primo Water Revolving Credit Facility and the Primo 2029 Notes. The Primo 2028 Notes will mature on October 31, 2028 and interest is payable semi-annually on April 30 and October 31 of each year commencing
on April 30, 2021.

Primo Water incurred approximately $8.5 million of financing fees for the issuance of the Primo 2028 Notes.
The financing fees are being amortized using the effective interest method over an eight-year period, which represents the term to maturity of the Primo 2028 Notes.

On March 6, 2020, Primo Water entered into a credit agreement among Primo Water, as parent borrower, Primo Water Holdings Inc. and
certain other subsidiary borrowers, certain other subsidiaries of Primo Water from time to time designated as subsidiary borrowers, Bank of America, N.A., as administrative agent and collateral agent, and the lenders from time to time party thereto
(the “Primo Water Credit Agreement”).

On January 13, 2023, Primo Water entered into the Second LIBOR Transition Amendment
to the Primo Water Credit Agreement, which replaced interest rate calculations based on LIBOR with calculations based on SOFR. See Note 16 to Primo Water’s consolidated financial statements for more details.

On July 11, 2024, Primo Water entered into the Third Amendment to the Primo Water Credit Agreement, which (i) extended the maturity
date to September 30, 2026 with no change to the initial aggregate availability of $350.0 million, (ii) transitioned the benchmark interest rate applicable to eurocurrency rate loans denominated in Canadian Dollars from the Canadian
Dollar Offered Rate (“CDOR”) to the Canadian Overnight Repo Rate Average (“CORRA”), and (iii) provides an exception to the restricted payments covenant for a one-time special dividend
in conjunction with the Transaction.

The Primo Water Credit Agreement provides for a senior secured revolving credit facility in an
initial aggregate committed amount of $350.0 million (the “Primo Water Revolving Credit Facility”), which may be increased by incremental credit extensions from time to time in the form of term loans or additional revolving credit
commitments. The Primo Water Revolving Credit Facility has a five year maturity date and includes letter of credit and swing line loan sub facilities.

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