Holley Announces Additional $25 Million Debt Paydown
2023年12月19日 - 10:30PM
ビジネスワイヤ(英語)
Holley has utilized strong free cash flow to
pay down $50 million in debt since September 2023
Holley Inc. (NYSE: HLLY), a leader in automotive aftermarket
performance solutions, today announced it paid down an additional
$25 million in principal against its first lien term loan facility.
This debt reduction against Holley’s first lien term loan facility
was completed through opportunistic repurchases at a discount to
par in November and December and were completed using cash on
hand.
Combined with the $25 million paydown during September 2023,
Holley has reduced the principal amount outstanding under its first
lien term loan facility by $50 million since September 2023
allowing Holley to recognize up to an estimated $2 million in
annualized net interest savings. Holley is committed to further
reducing its leverage over the next 12 months.
“We are delivering our commitments and executing the strategy we
outlined at the beginning of 2023 to improve financial flexibility
and reduce leverage,” said Jesse Weaver, Chief Financial Officer,
Holley. “The successful execution of these opportunistic
repurchases is another key step forward for Holley. Looking ahead
to 2024, our executive leadership team remains committed to
prioritizing near-term cash flow for debt reduction.”
For more investor relations news, visit Holley’s website.
About Holley Holley Inc.
(NYSE: HLLY) is a leading designer, marketer, and manufacturer of
high-performance products for car and truck enthusiasts. Holley
offers a leading portfolio of iconic brands that deliver innovation
and inspiration to a large and diverse community of millions of
avid automotive enthusiasts who are passionate about the
performance and personalization of their classic and modern cars.
Holley has disrupted the performance category by putting the
enthusiast consumer first, developing innovative new products, and
building a robust M&A process that has added meaningful scale
and diversity to its platform. For more information on Holley,
visit https://www.holley.com.
Forward-Looking Statements
Certain statements in this press release may be considered
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
relate to future events or Holley’s future financial or operating
performance. For example, statements regarding further debt
reduction and any benefits related thereto are forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “will,”
“continue,” “estimate,” “see,” “look,” “anticipate,” “believe,”
“predict,” “or” or the negatives of these terms or variations of
them or similar terminology. Such forward-looking statements are
subject to risks, uncertainties, and other factors which could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements. These forward-looking
statements are based upon estimates and assumptions that, while
considered reasonable by Holley and its management, are inherently
uncertain. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to: 1) the ability of Holley to grow and manage growth profitably
which may be affected by, among other things, competition and
maintenance of relationships with customers and suppliers; 2) the
ability to hire or retain its management and key employees; 3)
costs related to Holley being a public company; 4) disruptions to
Holley's operations, including as a result of cybersecurity
incidents; 5) changes in applicable laws or regulations; 6) the
outcome of any legal proceedings that may be instituted against
Holley; 7) general economic and political conditions, including the
current macroeconomic environment, political tensions and war
(including the conflict in Ukraine, the conflict in Israel and
surrounding areas, and the possible expansion of such conflicts and
potential geopolitical consequences); 8) the possibility that
Holley may be adversely affected by other economic, business and/or
competitive factors, including recent events affecting the
financial services industry (such as the closures of certain
regional banks); 9) Holley’s estimates of its financial
performance; 10) Holley’s ability to anticipate and manage through
disruptions and higher costs in manufacturing, supply chain,
logistical operations, and shortages of certain Holley products in
distribution channels; and 11) other risks and uncertainties set
forth in the section entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in the Annual Report on Form
10-K for the year ended December 31, 2022 filed with the U.S.
Securities and Exchange Commission (“SEC”) on March 15, 2023,
and/or disclosed in any subsequent filings with the SEC. Although
Holley believes the expectations reflected in the forward-looking
statements are reasonable, nothing in this press release should be
regarded as a representation by any person that the forward-looking
statements or projections set forth herein will be achieved or that
any of the contemplated results of such forward looking statements
or projections will be achieved. There may be additional risks that
Holley presently does not know or that Holley currently believes
are immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. Holley undertakes no duty to
update these forward-looking statements, except as otherwise
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231219009197/en/
Investor Relations: Ross Collins or Stephen Poe Alpha IR
Group 312-445-2870 HLLY@alpha-ir.com
Holley (NYSE:HLLY)
過去 株価チャート
から 8 2024 まで 9 2024
Holley (NYSE:HLLY)
過去 株価チャート
から 9 2023 まで 9 2024