Helen of Troy to draw on revolver to fund common stock purchase

By Tali Rackner

Norfolk, Va., Feb. 10 - Helen of Troy Ltd. plans to use borrowings under its existing revolving credit facility and cash on hand to fund its purchase of common stock through a tender offer, according to a press release.

On Monday, the company commenced a modified "Dutch auction" tender offer to repurchase up to $300 million of its common shares.

The offer will expire at midnight ET on March 10.

Helen of Troy is an El Paso-based designer, developer and marketer of brand-name personal care and household consumer products.

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