Magnite, Inc. (NASDAQ: MGNI) announced on October 7, 2026, that it has entered into Amendment No. 3 to its existing Credit Agreement. The amendment modifies the interest rate margins for the company's senior secured term loan facility and revolving credit facility.
The company successfully repriced its $358 million senior secured term loan facility due in February 2031. The interest rate for the term loans was reduced by 50 basis points to Term SOFR plus 2.50%, down from the previous rate of Term SOFR plus 3.00%. This reduction is expected to generate approximately $1.8 million in annualized cash interest savings. The maturity date for the Term Loan remains February 2031, and all other terms are substantially unchanged.
Separately, the company repriced its $175 million senior secured revolving credit facility, which matures in February 2029. The interest rate margin for this facility was reduced by 100 basis points. Borrowings under the Revolving Credit Facility will now bear interest at Term SOFR plus a margin ranging from 2.50% to 3.00%, compared to the previous range of 3.50% to 4.00%. All other material terms of the facility remain substantially unchanged.
Magnite stated that the repricing reflects the continued strength of its balance sheet and robust cash flow generation. The company noted that the interest rate improvement represents a cumulative reduction of 250 basis points compared to the rate prior to the refinancing of the term loan in February 2024.
