APi Group repays $200 million of term loan borrowings in January

By Sara Rosenberg

New York, Jan. 12 – APi Group Corp. made payments in January totaling $200 million on its term loan debt, with $100 million being paid down on its 2019 term loan and $100 million being paid down on its 2021 term loan, according to a news release.

“The recent paydown of debt represents another strong step forward on our path to reducing leverage and managing our fixed vs. variable debt portfolio. We remain laser focused on cash generation and deleveraging at approximately one turn annually as we move towards our stated target net leverage ratio of 2.0 to 2.5x,” said Russ Becker, president and chief executive officer, in the release.

APi is a New Brighton, Minn.-based business services provider of safety, specialty and industrial services.

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