Lifetime Brands closes $60M second lien term loan and $200M ABL facility amendment, both maturing Aug 2031

LIFETIME BRANDS, INC

ABL facility amended to $200M commitments (US $160M, UK $35M, Dutch $5M), maturity extended to Aug 17, 2031.
New $60M second lien term loan from Pathlight Capital replaces existing Term Loan B; matures Aug 17, 2031.
Term loan interest at Term SOFR + 6.75%-7.25% (or base rate +7.75%-8.25%) based on ABL availability; quarterly principal payments of 1.25% begin Oct 2027.
ABL margins fixed at 0.75% (ABR) and 1.75% (benchmark) until Sept 30, 2026; covenants include FCCR of 1.10x and term loan requires adjusted EBITDA >= $30M.
Proceeds used to repay existing term loan B, pay transaction costs, and for general corporate purposes.

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