Weight Watchers Announces Completion of Amendment to its Existing Credit Facilities
Weight Watchers International, Inc. (NYSE: WTW) today announced that it has completed an amendment to its existing credit facilities to increase its borrowing capacity up to an additional $1.45 billion to finance the share purchases in its pending tender offer and the previously announced related share repurchase from Artal Sp. z o.o., Succursale de Luxembourg, the Company's majority shareholder. The Company also obtained an extension of the maturities of its revolving credit facility and a portion of its previously existing term loan facility in connection with the credit facilities amendment. The Company will be filing an amendment to its previously announced "modified Dutch auction" tender offer for up to $720.0 million in value of its common stock, at a price not less than $72.00 per share and not greater than $83.00 per share, to provide additional details regarding the completion of the amendment to its credit facilities in the tender offer materials.
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