On December 3, 2024, Deluxe announced the completion of its previously announced offering of $450 million aggregate principal amount of senior secured notes due 2029. These notes carry an interest rate of 8.125% per annum, payable semi-annually.
The company also closed an amendment and restatement of its existing credit agreement. This provides for new senior secured credit facilities, including a $400 million revolving credit facility and a $500 million term A loan facility, extending maturities to February 1, 2029.
The net proceeds from the notes offering, combined with borrowings under the new credit facilities, were used to refinance the company's term A loan facility and revolving credit facility. This strategic refinancing extends debt maturities and enhances financial flexibility, aligning with the company's debt reduction goals.
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