Callaway Golf Company has reportedly repaid in full the remaining approximately $163 million outstanding under its Term Loan B Facility, following its voluntary prepayment of $1 billion of Term Loan B debt in January 2026, following the sale of 60 percent of its stake in Topgolf to Leonard Green & Partners for $1.1 billion.
The repayment was reportedly funded with cash on hand, “further simplifying the company’s capital structure.”
Immediately following the repayment, the company had roughly $53 million of remaining gross debt, consisting of approximately $44 million under its Japan ABL facility and approximately $9 million of equipment notes and finance leases, as well as unrestricted cash and cash equivalents of over $150 million. The repayment will reduce future cash interest expenses and enhance financial flexibility.
“This final repayment marks an important milestone in the balance sheet actions we outlined earlier this year,” commented company CFO and Chief Legal Officer Brian Lynch. “With our Term Loan B now fully repaid, we are well-positioned to continue executing our capital allocation priorities with a strong balance sheet.”
The company said the repayment is consistent with its previously communicated capital allocation priorities: reinvesting in the business, maintaining a healthy balance sheet and returning capital to shareholders.
Callaway Golf Company continues to expect to end the year in a net cash position, with zero net leverage.
Image courtesy Callaway Golf Company
