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Weight Watchers to prepay $84.9 million initial tranche B-1 term loans
By Tali Rackner
Norfolk, Va., June 22 – Weight Watchers International, Inc. will prepay at a discount on June 26 about $84.9 million principal amount of its outstanding initial tranche B-1 term loans, according to an 8-K filing with the Securities and Exchange Commission.
The company announced on June 16 that it intended to prepay at a discount up to $229 million of the term loans.
On Monday, Weight Watchers accepted offers with a discount of at least 9%. It will expend cash proceeds totaling roughly $77.2 million plus an amount sufficient to pay accrued interest to prepay about $84.9 million principal amount of term loans.
JPMorgan Chase Bank, NA is the administrative agent and an issuing bank. The Bank of Nova Scotia is the revolving agent, swingline lender and an issuing bank.
Weight Watchers is a New York-based provider of weight management services.
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