---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-039077"
form_type: "8-K"
ticker: "LCUT"
cik: "0000874396"
company_name: "LIFETIME BRANDS, INC"
filed_at: "2023-11-15T23:59:59+00:00"
generated_at: "2026-06-08T02:59:13.193081+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Lifetime Brands amends Term Loan B: $150M extended to August 2027, new SOFR-based pricing

## Summary
- Amended Term Loan B principal reduced to $150M, maturity extended from Feb 2025 to Aug 2027.
- Borrowed $48.7M on ABL facility to prepay part of existing term loan; $9M paid for OID & fees.
- New interest rate options: ABR + 4.5% (floor 1%) or Adjusted Term SOFR + 5.5% (floor 1%).
- New financial covenant: Total Net Leverage Ratio ≤ 5.00:1, measured quarterly from Dec 31, 2023.
- Quarterly principal payments begin Mar 31, 2024 at 1.25% of original principal; annual excess cash flow prepayment required.

## SEC filing metadata
- accession: 0001628280-23-039077
- form_type: 8-K
- ticker: LCUT
- cik: 0000874396
- company_name: LIFETIME BRANDS, INC
- filed_at: 2023-11-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874396/000162828023039077/0001628280-23-039077-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874396/000162828023039077/lcut-20231114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-039077
- JSON: https://secwatch.observer/filing/0001628280-23-039077.json
- Plain text: https://secwatch.observer/filing/0001628280-23-039077.txt

## Key facts
- Debt Financings
  LIFETIME BRANDS, INC amended credit facility of $150.0 million with JPMorgan Chase Bank, N.A. at Adjusted Term SOFR (Term SOFR plus the Term SOFR Adjustment) for the applicable maturing August 26, 2027.
  - Instrument: credit facility
  - Principal: $150.0 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: Adjusted Term SOFR (Term SOFR plus the Term SOFR Adjustment) for the applicable
  - Maturity: August 26, 2027
  - Event: amendment
  source text: The Amendment, among other things, converted the Company's remaining Tranche B Term Loans to Extended Term Loans in an outstanding principal amount of $150.0 million and with a maturity of August 26, 2027
  evidence_url: https://www.sec.gov/Archives/edgar/data/874396/000162828023039077/0001628280-23-039077-index.htm
- Material Agreements
  LIFETIME BRANDS, INC amended Amendment No. 2 with JPMorgan Chase Bank, N.A., as Administrative Agent and adding Manufacturers and Traders Trust Company, as syndication agent valued at $150.0 million (effective 2023-11-14).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent and adding Manufacturers and Traders Trust Company, as syndication agent
  - Value: $150.0 million
  - Effective: 2023-11-14
  source text: On November 14, 2023, Lifetime Brands, Inc. (the “Company”), entered into Amendment No. 2 (the “Amendment”) to amend that certain Loan Agreement, dated as of March 2, 2018, among the Company, as borrower, the other loan parties from time to time party thereto, the lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent and adding Manufacturers and Traders Trust Company, as syndication agent (the “Term Loan Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/874396/000162828023039077/0001628280-23-039077-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.