Regal Global Entertainment Reduces Term Loan Margin Following Moody's Credit Upgrade
Regal Global Entertainment has successfully repriced its $1.9 billion term loan facility, reducing the interest rate margin by 50 basis points from SOFR + 450 to SOFR + 400. This transaction is expected to yield approximately $9.3 million in annual cash interest savings while maintaining the existing maturity date and material terms. The repricing follows a credit rating upgrade from Moody's, which moved Regal's Corporate Family Rating from B3 to B2 with a positive outlook. Over the last three years, the company has cumulatively reduced its borrowing margins by 450 basis points, resulting in roughly $80 million in annualized interest savings as it works to strengthen its financial profile.
Tickers: $MCO
Topics: cost savings credit rating upgrade interest rate reduction term loan repricing