According to an 8K filed with the SEC, JPMorgan Chase Bank served as administrative agent on an amendment to WW International’s revolving credit facility, increasing the commitments to $175 million from $150 million and raising the consolidated first lien net debt leverage ratio required by the financial maintenance covenant.
On June 5, WW International fully repaid the loans outstanding on its revolver, which it previously drew down as a precautionary measure in light of the COVID-19 outbreak. Following this repayment, the company had a cash balance of $127 million.
WW Internal — Weight Watchers reimagined — is a global wellness company.
