APi Group repays $175 million of 2026 term loan borrowings

By Sara Rosenberg

New York, Dec. 19 – APi Group recently paid down an additional $175 million on its term loan due 2026, leaving $330 million outstanding, according to a news release.

Year to date, the company has repaid a total of $475 million of debt and expects to end 2023 below its targeted net leverage ratio of 2.5x.

“The recent paydown of debt represents another step forward on our path to reducing leverage and strengthening our balance sheet, while returning to bolt-on M&A in 2023. As we look forward to 2024, we expect to grow our adjusted free cash flow and to improve our free cash flow conversion providing us with a significant opportunity for value enhancing capital deployment with our advantageous balance sheet,” said Kevin Krumm, chief financial officer, in the release.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.