WH Group (00288) said it has entered into a facility agreement today with certain banks in relation to a US dollar term loan facility in an amount of US$1,500 million.
The new facility carries an interest rate of LIBOR plus a range of 2.48% to 3.08% in correlation to the company's consolidated leverage ratio. The initial applicable interest rate will be LIBOR plus 2.78%. The final repayment date will be 60 months after the date of the new facility agreement.
The new facility will be used to refinance the entire outstanding principal of WH Group's existing US$4 billion term loan facility bearing interest rate of LIBOR plus 4.5%.
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