CompoSecure completes debt refinancing

CompoSecure (CMPO) announced that CompoSecure Holdings closed its private placement of $900M aggregate principal amount of senior secured notes due 2033, a new $1.2B term loan facility maturing in 2033, and $400M in revolving commitments maturing in 2031. The Notes were issued at par and bear a fixed annual interest rate of 5.625%, payable semi-annually on February 1 and August 1 of each year. The New Term Loan bears interest at a rate of the term SOFR reference rate plus 2.25% and was issued at a price of 99.875% of the face amount. The Company used the net proceeds from the New Term Loan, the incurrence of certain borrowings under the New Revolving Loan, and the issuance of the Notes, together with cash on hand, to repay in full any outstanding borrowings under the issuer’s existing revolving credit facility, to refinance in full its existing Term Loan B, and pay related fees and expenses. This refinancing lowers the Company’s overall cost of capital, extends maturities, and enhances liquidity and financial flexibility, strengthening the Company’s capital structure to support continued strategic growth initiatives.