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Weight Watchers $500 million credit facility to launch Tuesday
By Sara Rosenberg
New York, Dec. 11 - Weight Watchers International Inc. is scheduled to hold a bank meeting on Tuesday for a proposed $500 million credit facility, according to a syndicate document. Credit Suisse First Boston and The Bank of Nova Scotia are joint lead arrangers on the deal.
The facility consists of a $250 million five-year revolver and a $250 million six-year term loan B. Interest rates on both tranches and the commitment fee on the revolver are still to be determined, the document said.
The company will use proceeds to refinance existing debt.
Weight Watchers is a Woodbury, N.Y., provider of weight loss services.
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