Janus International Group Successfully Completes Term Loan Repricing
April 30 2024 - 3:15PM
Business Wire
Janus International Group, Inc. (NYSE: JBI) (“Janus” or the
“Company”), a leading provider of cutting-edge access control
technologies and building product solutions for the self-storage
and other commercial and industrial sectors, today announced a
repricing of its first lien term loan.
The repricing, which was privately placed with institutional
lenders in the syndicated loan market, reduces the applicable
interest rate on the $600 million first lien term loan by 50 bps
from SOFR + 300 bps + CSA to SOFR + 250 bps. There are no changes
to the maturity of the first lien term loan following this
repricing and all other terms are substantially unchanged.
Additionally, the Company announced that during the second quarter
it elected to prepay $21.9 million of its First Lien Term Loan due
2030.
“We are pleased with the strong market demand and lender support
for our first lien term loan repricing,” said Anselm Wong,
Executive Vice President and Chief Financial Officer. “This
strategic repricing, which will lower our annual interest expense,
is another proactive step to ensure we are well positioned to have
the financial flexibility to continue to execute on our long-term
outlook and drive total shareholder return.”
About Janus International Group
Janus International Group, Inc. (www.JanusIntl.com) is a leading
global manufacturer and supplier of turn-key self-storage,
commercial and industrial building solutions, including roll-up and
swing doors, hallway systems, re-locatable storage units and
facility and door automation technologies. The Janus team operates
out of several U.S. locations and six locations
internationally.
Forward Looking Statements
Certain statements in this communication may be considered
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other
than statements of historical fact included in this communication
are forward-looking statements, including, but not limited to
statements regarding Janus’s belief regarding the demand outlook
for Janus’s products and the strength of the industrials markets.
When used in this communication, words such as “may,” “should,”
“could,” “would,” “expect,” “plan,” “anticipate,” “believe,”
“estimate,” “continue,” or the negative of such terms or other
similar expressions, as they relate to the management team,
identify forward-looking statements. Such forward-looking
statements are based on the current beliefs of Janus’s management,
based on currently available information, as to the outcome and
timing of future events, and involve factors, risks, and
uncertainties that may cause actual results in future periods to
differ materially from such statements.
In addition to factors previously disclosed in Janus’s reports
filed with the SEC and those identified elsewhere in this
communication, the following factors, among others, could cause
actual results to differ materially from forward-looking statements
or historical performance: (i) risks of the self-storage industry;
(ii) the highly competitive nature of the self-storage industry and
Janus’s ability to compete therein; (iii) litigation, complaints,
and/or adverse publicity; (iv) cyber incidents or directed attacks
that could result in information theft, data corruption,
operational disruption, and/or financial loss; and (v) the risk
that the demand outlook for Janus’s products may not be as strong
as anticipated.
There can be no assurance that the events, results, or trends
identified in these forward-looking statements will occur or be
achieved. Forward-looking statements speak only as of the date they
are made, and Janus is not under any obligation and expressly
disclaims any obligation to update, alter, or otherwise revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by law. This
communication is not intended to be all-inclusive or to contain all
the information that a person may desire in considering an
investment in Janus and is not intended to form the basis of an
investment decision in Janus. All subsequent written and oral
forward-looking statements concerning Janus or other matters and
attributable to Janus or any person acting on its behalf are
expressly qualified in their entirety by the cautionary statements
above and under the heading “Risk Factors” in Janus’s most recently
filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q,
as updated from time to time in amendments and its subsequent
filings with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20240430951030/en/
Investors, Janus
Sara Macioch Senior Director, Investor Relations, Janus
International 770-562-6399 IR@janusintl.com
Media, Janus
Suzanne Reitz Vice President of Marketing, Janus International
770-746-9576 Marketing@Janusintl.com
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