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Subsequent Events
6 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

On March 13, 2022, the Company entered into an agreement to repurchase 5,906,954 shares from MSD Valley Investments, LLC at $12.33 per share under the share repurchase program announced on December 6, 2021. Such repurchase transaction was completed on April 4, 2022.

On April 22, 2022, the Company, entered into Amendment No. 6 to the Credit Agreement (the “Amendment Agreement”). Under the terms of the Amendment Agreement, the Existing Credit Agreement was amended (the “Amended Credit Agreement”) to provide for: (i) a $1,200.0 seven-year term loan (the “Series B Term Loan”) and (ii) a $300.0 five-year revolving credit facility (the “Revolving Credit Facility”). The Series B Term Loan matures on April 22, 2029 and bears interest at a rate per annum of a secured overnight funding rate (“Term SOFR”) plus a margin of 3.25% or a base rate (“ABR”) plus a margin of 2.25%, subject to SOFR and ABR floors of 0.5% and 1.5%, respectively. The Company used the net proceeds from the Series B Term Loan to repay all amounts outstanding under the Company’s Existing Credit Agreement. The Revolving Credit Facility matures on April 22, 2027 and bears interest at a rate per annum of Term SOFR plus a margin ranging from 2.00 to 2.50% or ABR plus a margin ranging from 1.00 to 1.50%, subject to SOFR and ABR floors of 0.5% and 1.5%, respectively, with the margin on the Revolving Credit Facility determined based on the Company’s first lien net leverage ratio. The Company's interest rate derivatives continue to qualify as cash flow hedges when applied to the Amendment Agreement in accordance with ASC 815 and ASC 848.