Penguin Solutions, Inc. announced on June 26, 2025, the completion of a refinancing of its credit facilities. The company entered into a new $400 million Revolving Credit Facility, which includes a $35 million letter of credit subfacility and matures in 2030.
In connection with this transaction, Penguin Solutions repaid and terminated its previous $300 million Term Loan A Facility and $250 million Revolving Credit Facility, both due in 2027. The company borrowed $100 million under the new facility and utilized $200 million in available cash to repay the $300 million outstanding under the existing facilities.
This refinancing resulted in a $200 million reduction in the company's total gross funded debt. The move is expected to significantly reduce leverage, extend debt maturities, and lower debt service costs, thereby strengthening Penguin Solutions' balance sheet and financial flexibility.
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