Reported 5 months ago
MoneyGram International Inc. failed to reach an agreement with lenders to lower its borrowing costs on a $398 million leveraged loan before a deadline, which led to missing the target date. A group of banks, led by Goldman Sachs Group Inc., aimed to reduce the interest rate margin on the loan maturing in 2030, resulting in a significant cut in the company’s interest-rate expenses. Despite the missed deadline, the US leveraged loan market has been active with companies repricing or refinancing existing borrowings, indicating a favorable environment for riskier borrowers to lower interest costs.
Source: YAHOO