Market News / Story
Magnite (MGNI) Cuts Loan Rates, Saving ~$1.8M/Year
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Magnite repriced its $358M Term Loan B to Term SOFR + 2.50% (from +3.00%) and reduced revolver margins by 100 bps, lowering annualized interest expense by approximately $1.8M. Maturities and other material terms are largely unchanged. Material Details #DetailAI Analyst View1Term Loan B cut 50 bps to SOFR+2.50%Directly lowers interest expense and boosts cash flow.2Annual interest savings ≈ $1.8MModest EPS/cash flow tailwind; frees capacity for ops or buybacks.3$358M Term…