HELEN OF TROY LTD (HELE): debt financing — Helen of Troy enters new $1.5B credit facility, replaces prior $1.25B revolver

HELEN OF TROY LTD

New Credit Agreement provides $1.0B revolver, $250M initial term loan (drawn), $250M delayed draw term loan, matures Feb 15, 2029.
Proceeds from initial term loan used to refinance ~$242.2M outstanding under prior agreement; no early termination penalties.
Accordion feature allows commitment increases up to fixed incremental amount plus unlimited if leverage ratio ≤3.25x.
Financial covenants include max leverage ratio and min interest coverage ratio; interest based on Term SOFR plus 1.0%-2.125%.
Prior $1.25B credit agreement terminated in connection with the new facility.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HELEN OF TROY LTD incurred term loan of $250 million delayed draw term loan facility at Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio maturing February 15, 2029.

Instrument: term loan
Principal: $250 million delayed draw term loan facility
Rate: Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio
Maturity: February 15, 2029
Event: incurrence

Exact text from the filing

a committed $250 million delayed draw term loan facility (the “DDTL Term Loans” and collectively with the Initial Term Loan, the “Term Facility”), which may be borrowed in multiple drawdowns until August 15, 2025.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HELEN OF TROY LTD incurred credit facility of $1.50 billion aggregate commitments with Bank of America, N.A., as administrative agent at Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio maturing February 15, 2029.

Instrument: credit facility
Principal: $1.50 billion aggregate commitments
Counterparty: Bank of America, N.A., as administrative agent
Rate: Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio
Maturity: February 15, 2029
Event: incurrence

Exact text from the filing

N.A. and the other lenders party thereto (as amended, collectively referred to as the “Prior Credit Agreement”). The Credit Agreement provides for aggregate commitments of $1.50 billion, which commitments are available through the following facilities: Revolving Facility - A $1.0 billion revolving credit facility (the “Revolving Facility”), which includes a $50

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HELEN OF TROY LTD incurred term loan of $250.0 million term loan facility with Bank of America, N.A., as administrative agent at Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio maturing February 15, 2029.

Instrument: term loan
Principal: $250.0 million term loan facility
Counterparty: Bank of America, N.A., as administrative agent
Rate: Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio
Maturity: February 15, 2029
Event: incurrence

Exact text from the filing

A $250.0 million term loan facility, which was drawn on the closing date of the Credit Agreement (the “Initial Term Loan”)

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HELEN OF TROY LTD amended revolving credit of $1.0 billion revolving credit facility with Bank of America, N.A., as administrative agent at Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio maturing February 15, 2029.

Instrument: revolving credit
Principal: $1.0 billion revolving credit facility
Counterparty: Bank of America, N.A., as administrative agent
Rate: Base Rate or Term SOFR, plus a margin based on the Net Leverage Ratio
Maturity: February 15, 2029
Event: amendment

Exact text from the filing

The Credit Agreement provides for aggregate commitments of $1.50 billion, which commitments are available through the following facilities: Revolving Facility - A $1.0 billion revolving credit facility (the “Revolving Facility”), which includes a $50 million sublimit for the issuance of letters of credit.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HELEN OF TROY LTD entered into Credit Agreement with Bank of America, N.A., as administrative agent, and the other lenders party thereto valued at $1.50 billion (effective 2024-02-15).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and the other lenders party thereto
Value: $1.50 billion
Effective: 2024-02-15

Exact text from the filing

On February 15, 2024, Helen of Troy Limited (the “Company”) and Helen of Troy Texas Corporation, a subsidiary of the Company and the borrower (“Borrower”), entered into that certain Credit Agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, and the other lenders party thereto.

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

HELEN OF TROY LTD filing history →

Source: SEC EDGAR

accession 0000916789-24-000007

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.