Holley Performance Brands has made an additional $15 million voluntary prepayment of debt, bringing total debt repaid since September 2023 to $115 million, all funded by free cash flow. The company expects these cumulative debt reduction actions to generate more than $4.5 million in annualized interest savings. Chief Financial Officer Jesse Weaver stated that the company is targeting a net leverage ratio below 3.5x by year-end, down from a peak of 5.67x, driven by operational improvements and consistent free cash flow generation. The prepayment further reduces outstanding borrowings under the company's debt facilities and supports enhanced profitability and financial flexibility.
Holley IncVoluntary debt prepayment reduces leverage and interest expense, improving financial flexibility and profitability.