MarineMax refinances $1.49 billion in credit facilities through 2031

MarineMax, Inc. (NYSE: HZO) has completed the refinancing of its $1.49 billion aggregate senior secured credit facilities, extending its debt maturity profile to June 2031, according to a company press release.

The new credit facilities include a $950 million floor plan line of credit, a $302.5 million term loan, a $150 million revolving credit facility, and an $85 million delayed draw mortgage facility. The revolving credit facility was expanded from the prior $100 million facility, while the mortgage facility replaced a prior $100 million facility, of which $35 million is currently outstanding.

The refinancing extends MarineMax's debt maturity by five years. Michael H. McLamb, Executive Vice President and Chief Financial Officer, said the transaction lowers borrowing costs and provides additional liquidity.

"This refinancing strengthens our financial position by lowering our borrowing costs, extending our maturity and providing additional liquidity to support the continued execution of our long-term strategy," McLamb said.

M&T Bank served as Administrative Agent and Joint Lead Arranger. Wells Fargo Commercial Distribution Finance acted as Joint Lead Arranger and Floor Plan Agent.

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