GNC Holdings Reprices Term Loan
GNC Holdings (NYSE: GNC), a leading global specialty retailer of nutritional products, today announced that is has completed the repricing of its Term Loan. Under the new terms, the loan bears interest at a rate per annum equal to the greater of the sum of the applicable Adjusted LIBO Rate and 1.00% plus the applicable margin of 2.75%. The previous terms were for a rate equal to the sum of the greater of the applicable Adjusted LIBO Rate and 1.25% plus the applicable margin of 3.00%. In connection with this repricing, lenders will receive a 1% premium if the Company consummates a "repricing transaction" within one year. All other terms remain unchanged.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.