SPY420.86+5.94 1.43%
DIA338.78+5.82 1.75%
IXIC14,141.48+111.10 0.79%

Frontdoor to Launch Refinancing Transaction

05/10/2021 07:25

11:20 AM EDT, 05/10/2021 (MT Newswires) -- Frontdoor (FTDR) said Monday it is planning to launch a refinancing deal that will include new term loans and a new revolving credit facility to reduce its interest expense and extend maturities.

Net proceeds from the transaction will be used to repay the company's $350 million 6.750% senior notes due 2026, as well as refinance its existing credit facility.

The transaction is expected to close in June, according to the statement.

Price: 53.24, Change: +0.57, Percent Change: +1.08