Subsequent Events |
3 Months Ended |
|---|---|
Mar. 30, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events For the interim Unaudited Condensed Consolidated Financial Statements as of March 30, 2024, the Company has evaluated subsequent events through the issuance date of the financial statements.
On April 18, 2024, the Company made a voluntary prepayment of $21.9 toward the certain First Lien Credit and Guarantee Agreement, dated as of February 12, 2018 (as amended to date, the “First Lien Term Loan”). The Company used cash on hand to make the voluntary prepayment.
On April 30, 2024, the Company completed a repricing pursuant to Amendment No. 7 (the “Repricing Amendment”) to that certain First Lien Term Loan, The Repricing Amendment reduced the applicable interest rate margins on the $600.0 First Lien’s Term Loan by 0.5% to 1.50%, for the term loans bearing interest at rates based on the base rate, and to 2.50%, for the term loans bearing interest at rates based on the secured overnight financing rate. The company uses the secured overnight financing rate. In addition to the change in the applicable margin rate, the Company is no longer subject to a CSA rate of 0.1%.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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