Daily News: December 1, 2017

JPMorgan Agents $1.69B Agreement for Weight Watchers International


Weight Watchers International closed a new credit agreement consisting of a $1.54 billion senior secured tranche B term loan and a $150 million senior secured revolving credit facility.

According to a related 8-K filing, JPMorgan Chase Bank served as administrative agent and an issuing bank. JPMorgan Chase, Merrill Lynch and Citigroup Global Markets were joint lead arrangers and joint bookrunners. Citibank was syndication agent. Bank of America was documentation agent. KeyBank and SunTrust were co-managers,

The senior secured tranche B term loans will mature in seven years. The $150 million senior secured revolving credit facility will mature in five years.

All obligations under the credit agreement are guaranteed by, subject to certain exceptions, each of the company’s current and future wholly-owned material domestic restricted subsidiaries.