Latham Group Refinances Debt with $375M Senior Secured Credit Facility
SWIM sits 61% above its 52-week low of $4.64.
Summary
Latham Group refinanced its debt with a new $375M senior secured credit facility, extending maturities and providing longer-term capital structure stability.
Key Events · Financing and Capital Events · SWIM
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New $375M Credit Facility
Latham Group entered into a new credit agreement providing a $300M senior secured term loan and a $75M revolving credit facility, replacing the prior Barclays-led facility from February 2022.
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Extended Maturities
The term loan matures August 20, 2033 (7 years) and the revolving facility matures August 20, 2031 (5 years), extending the company's debt maturity profile.
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Pricing and Covenant
Term loan priced at Term SOFR + 4.00%; revolver at Term SOFR + 3.25%-3.50% based on leverage. Springing covenant requires max First Lien Net Leverage Ratio of 5.20:1.00 when revolver usage exceeds 40%.
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Mandatory Prepayments
Requires 50% of excess cash flow and 100% of net cash proceeds from asset sales, non-permitted debt, and casualty events to be applied to term loan prepayment.
Analysis · SWIM · Industrial Applications And Services
Latham Group replaced its existing credit agreement with a new $375 million senior secured facility consisting of a $300 million term loan and a $75 million revolving credit line. The refinancing extends maturities to 2033 and 2031 respectively, providing longer-term capital structure stability. The term loan carries a Term SOFR + 4.00% margin, while the revolver pricing ranges from 3.25% to 3.50% depending on leverage. A springing financial covenant requires a maximum First Lien Net Leverage Ratio of 5.20:1.00 only when revolver usage exceeds 40% of commitments. The new facility is secured by substantially all assets of the borrower and guarantors, replacing the prior Barclays-led facility from February 2022.
How filings like this one have moved
In the 30 days to Aug 22, 2026, 29.1% of the 2960 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SWIM was trading at $7.48 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $834.1M. The 52-week trading range was $4.64 to $8.97. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.