V2X Announces $25 Million Prepayment on its Second Lien Term Loan

Rhea-AI Summary

V2X, Inc. (NYSE: VVX) has announced a prepayment of $25 million on its $185 million Second Lien Term Loan, made on December 30, 2022. This strategic move aims to reduce interest expenses and enhance shareholder returns. CFO Susan Lynch emphasized the company's commitment to improving its cost of capital and achieving further interest savings. V2X, formed by the merger of Vectrus and Vertex, provides critical mission solutions to defense clients worldwide, leveraging over 120 years of combined experience.

Positive

• Prepayment of $25 million on Second Lien Term Loan indicates strong financial management.
• Efforts to lower interest expenses may result in increased returns to shareholders.

Negative

• None.

MCLEAN, Va., Jan. 12, 2023 /PRNewswire/ -- V2X, Inc., (NYSE: VVX), a leading provider of critical mission solutions and support to defense clients globally, announced that on December 30, 2022, the company made a $25 million prepayment on its $185 million Second Lien Term Loan.

"We are pleased to announce the $25 million prepayment of our Second Lien Term Loan, which demonstrates our commitment to lowering interest expense and increasing returns to shareholders," said Susan Lynch, Senior Vice President and Chief Financial Officer. "We continue to see opportunities to further improve the company's cost of capital and drive additional interest expense savings."

ABOUT V2X
V2X is a leading provider of critical mission solutions and support to defense clients globally, formed by the 2022 merger of Vectrus and Vertex to build on more than 120 combined years of successful mission support. The Company delivers a comprehensive suite of integrated solutions across the operations and logistics, aerospace, training and technology markets to national security, defense, civilian and international clients. Our global team of approximately 15,000 employees brings innovation to every point in the mission lifecycle, from preparation, to operations, to sustainment, as they tackle the most complex challenges with agility, grit and dedication.

Contact Information

Mike Smith, CFA
michael.smith@vectrus.com
(719) 637-5773

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SOURCE V2X, Inc.

FAQ

What was announced by V2X on January 12, 2023?

V2X announced a $25 million prepayment on its $185 million Second Lien Term Loan.

What is the significance of V2X's $25 million loan prepayment?

The prepayment aims to lower interest expenses and improve returns to shareholders.

When did V2X make the loan prepayment?

The prepayment was made on December 30, 2022.

How does V2X plan to improve its financial position?

V2X plans to enhance its cost of capital and achieve further interest expense savings.