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BRIEF-Hostess Brands Inc announces completion of strategic refinancing
May 22, 2017 / 12:10 PM / 4 months ago

BRIEF-Hostess Brands Inc announces completion of strategic refinancing

May 22 (Reuters) - Hostess Brands Inc

* Hostess Brands Inc announces completion of strategic refinancing

* Under transaction, company’s first lien term loan was repriced from LIBOR plus 3.00% to LIBOR plus 2.50%

* In addition to 50 basis points reduction to interest rate, LIBOR floor was reduced to 75 basis points from 100 basis points

* No covenants were changed and first lien term loan continues to have a maturity date of august 3, 2022

* As result of repricing, co’s annualized interest expense savings about$5.0 million, or $0.02 of basic and diluted EPS to common stockholders

* For 2017 company expects interest expense of $39 million to $41 million, a savings of $0.01 to $0.02 per basic and diluted earnings per share Source text for Eikon: Further company coverage:

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