Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / repricing-protection-analysis-memo.docx
repricing-protection-analysis-memo.docx
Parties
Harkness LLP
Verimark Hospitality Group Inc
Partridge LLP
Greystone Federal Credit Corp
Profile Verimark Hospitality Group Inc
Meridian Strauss Advisory LLC
Substantially Concurrent Inc
Debt Inc
Dates
May 19, 2022
May 23, 2022
April 28, 2022
May 16, 2022
July 21, 2022
January 21, 2023
February 14, 2020
March 31, 2022
July 21, 2029
April 8, 2022
Amounts
$700,000,000
$7,000,000
$3,500,000
$625,000,000
$606,250,000
$693,000,000
$1,750,000
$651,000,000
$75,000,000
$3.1
Obligations
During the Repricing Protection Period, if VHG (a) voluntarily prepays all or a portion of the outstanding Term Loan B in connection with a "Repricing Transaction" (as defined below), (b) refinances all or a portion of the outstanding Term Loan B in connection with a Repricing Transaction, or (c) effects an amendment to the Credit Agreement that constitutes a Repricing Transaction, VHG shall be required to pay a premium to the affected lenders
The replacement indebtedness must bear interest at a lower "Effective Yield" (as defined and discussed in Section III
VHG is required to prepay the Term Loan B with 100% of the net cash proceeds of certain non-permitted debt incurrences
Term SOFR plus the CSA), any replacement indebtedness used to evaluate whether a Repricing Transaction has occurred must be evaluated using the same benchmark methodology
This analysis assumes that VHG has the opportunity to reprice the Term Loan B to a lower spread and must determine whether the present value of future margin savings exceeds the Soft Call Premium cost