WEIGHT WATCHERS INTERNATIONAL, INC. (NYSE:WTW) Files An 8-K Other Events
Item8.01.
| Other Events. |
On May18, 2017, Weight Watchers International, Inc. (the Company)
commenced an offer to prepay at a discount to par up to
$75million of Initial Tranche B-2 Term Loans outstanding under,
and as defined in, and to the terms of, the Credit Agreement
among the Company, the lenders party thereto, JPMorgan Chase
Bank, N.A., as administrative agent and an issuing bank, The Bank
of Nova Scotia, as revolving agent, swingline lender and an
issuing bank, and the other parties thereto. On May24, 2017, the
Company accepted offers with a discount equal to or greater than
3.28% in respect of the Initial Tranche B-2 Term Loans. To
complete the prepayment of the accepted offers, on May25, 2017,
the Company will expend an aggregate amount of cash proceeds
totaling approximately $73.03million plus an amount sufficient to
pay accrued and unpaid interest on the amount to be prepaid to
prepay approximately $75.51million of the Initial Tranche B-2
Term Loans, resulting in approximately $2.48million in savings on
the payment. A copy of the Companys press release regarding the
matter described above is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
| Item9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 99.1 | Press Release dated May24, 2017. |
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About WEIGHT WATCHERS INTERNATIONAL, INC. (NYSE:WTW)
Weight Watchers International, Inc. is a provider of weight management services. The Company operates globally through a network of Company-owned and franchise operations. The Company’s branded products and services include meetings conducted by its franchisees, digital weight management products provided through its Websites, mobile sites and applications, products sold at meetings, licensed products sold in retail channels and magazine subscriptions and other publications. It operates through four segments: North America, United Kingdom, Continental Europe (CE) and Other. It sells a range of products, including bars, snacks, cookbooks, food and restaurant guides with SmartPoints values, Weight Watchers magazines, SmartPoints calculators and fitness kits, and certain third-party products, such as activity-tracking monitors. It sells its products through its meetings business, online and to its franchisees. WEIGHT WATCHERS INTERNATIONAL, INC. (NYSE:WTW) Recent Trading Information
WEIGHT WATCHERS INTERNATIONAL, INC. (NYSE:WTW) closed its last trading session up +0.79 at 26.84 with 772,821 shares trading hands.
