Helen of Troy Limited announced an amendment to its existing credit facility, providing extended flexibility in financial ratios.
The amendment includes modifications to the Leverage Ratio and Interest Coverage Ratio.
The commitment under the credit facility has been adjusted with new interest margin tiers.
Extended Flexibility
Amendment provides a holiday for the maximum Leverage Ratio and changes the Interest Coverage Ratio definition.
Reduced Commitment
Commitment under the revolving credit facility reduced from $1.0 billion to $750 million.
Partnership with Bank of America
Collaboration with Bank of America and lender group for favorable credit facility terms.
- The amendment offers Helen of Troy Limited greater flexibility to navigate market uncertainties.
- The Company does not anticipate limitations on borrowing capacity due to the amended commitment under the credit facility.
Helen of Troy Limited's amendment to the credit agreement strengthens its financial position and flexibility in a changing economic landscape.