PLBY Group, Inc. announced on November 12, 2024, that it signed a deal with lenders to reduce its senior debt by $66 million. This significant debt reduction is a key step in strengthening the company's financial position.
The debt restructuring is part of PLBY Group's broader strategy to transition to an asset-light business model and improve its balance sheet. This move is expected to provide greater operational flexibility and reduce future cash interest expenses.
This financial maneuver represents a material improvement in the company's capital structure. It positions PLBY Group to better pursue its strategic objectives and focus on long-term profitability.
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