Thursday, April 17, 2025
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Hans Baldau, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Term Loan Refi. NN announced the successful completion of its term loan refinancing. The new term loan has multiple improved operational features that management expects will enable the Company to improve and grow faster. Combined with the $65 million ABL refinancing announced in January, yesterday’s announcement sets the stage for a new chapter for NN, in our view.
Details. Although we are awaiting an 8-K filing to drill down into all the terms of the new financing, the term loan is $118 million, with a 2030 maturity. There is a $10 million add-on feature for certain borrowing and improved leverage and liquidity covenants. However, the interest rates are slightly higher than the previous term loan. Marathon Asset Management is the new lender.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.