Nu Skin enters into $900M credit facility; $400M term loan + $500M revolver, 5-year term

NU SKIN ENTERPRISES, INC.

New credit agreement provides a $400M term loan and a $500M revolving credit facility, each with a five-year term.
On June 14, 2022, the Company drew the full term loan ($400M) and $30M on the revolver to repay all amounts outstanding under its prior credit agreement.
Loans bear interest at Term SOFR plus an initial spread of 1.75% (term) or 2.00% (revolver), adjustable based on leverage ratio.
Financial covenants require a consolidated leverage ratio ≤2.75x and interest coverage ratio ≥3.00x.
The credit agreement includes customary events of default and restrictions on liens, indebtedness, investments, and dividends.

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