Holley pays down $25 million against its first-lien term loan

By Mary-Katherine Stinson

Lexington, Ky., Sept. 29 – Holley Inc. announced it paid down $25 million in principal against its first-lien term loan facility, according to a 99.1 filed with the Securities and Exchange Commission.

This debt reduction against Holley's first-lien term loan facility was completed through a repurchase of $14 million at a discount to par through late-September, while the remaining $11 million was a voluntary prepayment of outstanding borrowings. The company used cash on hand to fund the paydown.

The transaction aligned with the goals of Holley’s operational improvement plan, which aims to restore profitability, improve free cash flow and optimize working capital.

Holley is a Bowling Green, Ky.-based platform in the performance enthusiast automotive aftermarket space.

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