Jul. 8 at 8:30 PM
$SNEX just priced
$625M in 6.875% senior notes to fund the RTS acquisition. At 283bps over 10Y Treasuries, this expensive debt comes as net debt/EBITDA already sits at 27.6x. With interest coverage at 1.29x, the math gets tighter - market will watch escrow release conditions through October.
https://www.sec.gov/Archives/edgar/data/913760/000091376025000123/intl-20250708.htm