Root Lowers Cost of Capital Through Refinancing and Announces $75 Million Share Repurchase Program
Root announced a $75 million share repurchase authorization and completed a refinancing of its $200 million term loan facility with The Huntington National Bank. The new debt facility reduces the interest rate by 225 basis points, expected to save approximately $4.5 million in annual interest expense.
Key figures
- Deal Value Usd
- 200000000
- Q2 one time charge
- $4.8 million
- Annual interest savings
- $4.5 million
- Interest rate reduction bps
- 225
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