Holley Announces Additional $15 Million Debt Paydown

Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, today announced it paid down an additional $15 million in principal against its first lien term loan facility. This debt reduction against Holley’s first lien term loan facility was completed through opportunistic repurchases at a discount to par in March and was completed using cash on hand.

Combined with the $50 million paydown during 2023, Holley has prepaid the principal amount outstanding under its first lien term loan facility by $65 million since September 2023 allowing Holley to cumulatively recognize up to an estimated $2.5 million in annualized net interest savings.

“The prepayment of an additional $15 million of debt demonstrates our continued focus to reduce leverage and improve our balance sheet,” said Jesse Weaver, Chief Financial Officer, Holley. “Our business model has a history of being resilient in all markets and consistently generating strong free cash flow. This has been further supported by our team's efforts to improve inventory turns while ensuring that we have the best-performing products on our shelves. As we continue to make progress on our business transformation, we will continue to prioritize reducing our leverage ratio by utilizing near-term cash flow.”

For more investor relations news, visit Holley’s website.

About Holley

Holley Inc. (NYSE: HLLY), commonly referred to as “Holley Performance Brands,” leads in the design, manufacturing and marketing of high-performance products for automotive enthusiasts. The company has a portfolio of iconic brands, catering to a diverse community of enthusiasts passionate about the customization and performance of their vehicles. Holley Performance Brands distinguishes itself through a strategic focus on four consumer vertical groupings, including Domestic Muscle, Modern Truck & Off-Road, Euro & Import, and Safety & Racing, ensuring a wide-ranging impact across the automotive aftermarket industry. Renowned for its innovative approach and strategic acquisitions, Holley Performance Brands is committed to enhancing the enthusiast experience and driving growth through innovation. For more information on Holley Performance Brands and its dedication to automotive excellence, visit https://www.holley.com.