Helen of Troy draws $210 million to fund Steel Technology acquisition

By Marisa Wong

Morgantown, W.Va., March 24 – Helen of Troy Ltd. borrowed $210 million under its amended and restated credit agreement dated Jan. 16, 2015 with Bank of America, NA, according to an 8-K filing with the Securities and Exchange Commission.

The company used loan proceeds and cash on hand to pay the cash consideration of its acquisition of the membership units of Steel Technology, LLC (d/b/a Hydro Flask).

The acquisition was completed on March 18.

The commitment under the credit agreement terminates on Jan. 16, 2020.

Helen of Troy is a Hamilton, Bermuda-based designer, developer and marketer of brand-name housewares and health-care, home environment and personal-care consumer products.

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