Holley Inc., one of the largest and fastest growing platforms in the enthusiast branded performance automotive aftermarket category, today announced the successful refinancing of its 2018 credit facility with a new $825 million credit facility. The new facility is comprised of a seven-year $600 million first-lien term loan, a five-year $125 million revolving credit facility, and a $100 million delayed draw term loan. The new term loan priced at LIBOR +375 basis points. Neither the delayed draw term loan nor the revolver were funded at closing.
“This transaction represents another milestone for our company,” said Dominic Bardos, chief financial officer of Holley. “The refinancing provides more favorable interest rates than the debt that was replaced, while simultaneously expanding our capacity for future borrowing to support our acquisition strategy. I am pleased with the outcome of this refinancing transaction.”