Hostess Brands has completed its debt refinancing.

KANSAS CITY — Hostess Brands, Inc. on Nov. 21 said it has completed its debt refinancing, including the repricing of its existing first lien term loan and the refinancing of its existing debt into an all first lien capital structure.

Under the refinancing, Hostess said its first lien term loan was repriced to LIBOR plus 3% from LIBOR plus 3.5%, resulting in an interest rate reduction of 50 basis points. The remaining $83 million of the company’s second lien term loan with an interest rate of LIBOR plus 7.5% was refinanced with an incremental $83 million first lien term loan at LIBOR plus 3%, the company said.

Hostess said it expects to realize approximately $8 million of interest expense savings annually, or approximately 4c of basic earnings per share to common shareholders, as a result of the refinanced capital structure.

William Toler, president and c.e.o. of Hostess

“We are very pleased with the refinancing of our debt and the ongoing support from our banking partners and debt holders,” said William Toler, president and chief executive officer of Hostess. “These refinancing activities build on the success of our operational initiatives and reflect the strength of our business model and cash flow. We believe our new all first-lien capital structure, along with our healthy financial condition, will provide our business with the financial flexibility required to support our continued long-term growth.”