Hillman Solutions (HLMN) said Wednesday it repriced its existing $643 million term loan due July 14, 2028, lowering its interest rate margin by 25 basis points to a secured overnight financing rate plus 200 basis points.

The company projects annualized interest savings at roughly $1.6 million, before about $1 million one-time fees.

Hillman shares were up 2% in recent trading.

Price: 10.09, Change: +0.21, Percent Change: +2.13