Cimpress plc announced the successful repricing of its $1,032 million USD tranche of its senior secured Term Loan B (TLB). This financial maneuver aims to optimize the company's debt structure and reduce its overall cost of capital. The repricing was expected to finalize in mid-December 2024.
In addition to the repricing, Cimpress upsized the USD TLB tranche by $49 million. The proceeds from this upsizing were strategically used to prepay its entire €46 million Euro TLB tranche. Upon closing, the USD TLB tranche outstanding was projected to be $1,081 million.
This action also extended the maturity of the company's revolving credit facility to September 2029, providing enhanced liquidity and financial flexibility. The repricing and upsizing demonstrate Cimpress's active management of its balance sheet to support long-term strategic objectives.
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