Weight Watchers amends to permit maturity extension, incremental loan

By Sara Rosenberg

New York, July 1 - Weight Watchers International Inc. successfully amended its credit facility, allowing for the extension of maturities on term loan and revolver debt, and providing for an up to $200 million incremental term loan, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

In addition, the amendment permits the company to reduce or eliminate the scheduled amortization on its term loans.

Modification offers of maturities may be accompanied with increased pricing and/or fees payable to accepting lenders.

Proceeds from any new incremental term loan must be used to repay and permanently reduce the commitments of the revolver. The term loan size is limited to the amount of outstanding revolver borrowings.

The amendment was completed on June 26.

The Bank of Nova Scotia is the administrative agent on the deal.

Weight Watchers is a New York-based provider of weight management services.

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