OneSpaWorld enters $100 million term loan and $50 million revolver, repays prior credit agreement
On September 20, 2024, OneSpaWorld and subsidiaries entered a new senior secured credit agreement with Bank of America, N.A. as administrative agent, providing a $100 million term loan (fully drawn) and a $50 million revolving facility that remained undrawn at closing. Proceeds, together with cash on hand, repaid in full the outstanding debt under the company's First Lien Credit Agreement, which was terminated; the new facilities mature September 20, 2029.
Key points
- Term loan of $100 million, fully drawn at closing; revolver of up to $50 million, undrawn at closing, including up to $5 million for letters of credit
- Interest at Term SOFR plus a 1.90% margin, stepping up to a maximum of 2.65% based on leverage; revolver commitment fee of 0.25% to 0.40%
- Financial covenants require maximum consolidated total leverage ratio of 4.00 to 1.00 and minimum fixed charge coverage ratio of 1.25 to 1.00
- Facilities are secured by substantially all assets and mature September 20, 2029
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:49 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 25, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.