RGS - Why Regis Corporation Stock Is Soaring | Benzinga
Regis Corporation (NASDAQ:RGS) shares are trading higher Tuesday after the company announced it has entered into a new senior secured credit facility with TCW Asset Management to refinance its existing debt.
The Details:
Regis said a $105 million term loan will replace the company’s existing debt, reducing outstanding indebtedness by more than $80 million and saving approximately $7 million in cash interest annually. In addition to the term loan, the company will have access to a $25 million revolving credit facility, with the term loan and credit facility maturing on June 24, 2029.
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“This strategic refinancing ...