NEW YORK, May 24, 2017 /PRNewswire/ -- On May 18, 2017, Weight Watchers International, Inc.
(NYSE: WTW) commenced an offer to prepay at a discount to par up to
$75 million of Initial Tranche B-2
Term Loans outstanding under, and as defined in, and pursuant to
the terms of, the Credit Agreement among the Company, the lenders
party thereto, JPMorgan Chase Bank, N.A., as administrative agent
and an issuing bank, The Bank of Nova
Scotia, as revolving agent, swingline lender and an issuing
bank, and the other parties thereto. 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.
About Weight Watchers International, Inc.
Weight
Watchers International, Inc. is one of the most recognized and
trusted brand names among weight-conscious consumers. Weight
Watchers provides commercial weight management services through a
global network of Company-owned and franchise operations and offers
innovative, digital weight management products through its
websites, mobile sites and apps. These services and products are
built on the Company's weight management program, which helps
millions of people around the world lose weight through sensible
and sustainable food plans, activity, behavior modification and
group support. Weight Watchers has an unparalleled network of
service providers to assist members on their journey and also
offers a wide range of products, publications and programs for
those interested in weight loss and healthier living.
This news release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on management's
current expectations and beliefs, as well as a number of
assumptions concerning future events. These statements are subject
to risks, uncertainties, assumptions and other important
factors. Readers are cautioned not to put undue reliance on such
forward-looking statements because actual results may vary
materially from those expressed or implied. The reports filed by
the Company pursuant to United States securities laws
contain discussions of these risks and uncertainties. The Company
assumes no obligation to, and expressly disclaims any obligation
to, update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Readers are
advised to review the Company's filings with the United States
Securities and Exchange Commission (which are available from
the SEC's EDGAR database
at www.sec.gov, at various SEC
reference facilities in the United States and via the
Company's website
at www.weightwatchersinternational.com).
Contact
Information:
Investors:
Brainerd Communicators,
Inc.
Corey
Kinger
(212)
986-6667
kinger@braincomm.com
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SOURCE Weight Watchers International, Inc.