Weight Watchers International initiated an offer to prepay, at a discount to par, up to $75 million of initial tranche B-2 term loans outstanding under the company’s JPMorgan-agented credit agreement.

The Bank of Nova Scotia is revolving agent, swingline lender and an issuing bank of the facility.

On May 24, 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 May 25, 2017, the company will expend an aggregate amount of cash proceeds totaling approximately $73.03 million plus an amount sufficient to pay accrued and unpaid interest on the amount to be prepaid to prepay approximately $75.51 million of the initial tranche B-2 term loans, resulting in approximately $2.48 million in savings on the payment.