Weight Watchers to launch $100 million B loan on Monday

By Sara Rosenberg

New York, March 13 - Weight Watchers International Inc. is scheduled to launch a $100 million term loan B on Monday. Credit Suisse First Boston and Bank of Nova Scotia are the lead arrangers on the deal, according to a news release.

The six-year term loan B has an interest rate of Libor plus 250 basis points.

Proceeds will be used to help fund an acquisition, according a news release.

On March 7, the company plans to acquire, in an all-cash transaction, nine of the 15 Weight Watchers franchises currently owned and operated by The WW Group, Inc. The involved franchises conduct Weight Watchers meetings in New Hampshire and Rhode Island and in select counties in Illinois, Indiana, Kentucky, Massachusetts, Missouri, New York, Ohio, Pennsylvania, Vermont, and West Virginia, and throughout Mexico. These franchises attracted approximately 5 million attendances during 2002.

Weight Watchers is a Woodbury, N.Y. global branded consumer company and a provider of weight-loss services.

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