Tupperware Shares Rise 14% on Debt Repayment, Share Buyback
June 22 2021 - 10:50AM
Dow Jones News
By Chris Wack
Tupperware Brands Corp. shares were up 14% to $23.24 after the
company said it prepaid $58 million of its term-loan debt from
Angelo Gordon and JP Morgan, and that its board of directors has
authorized share repurchases of up to $250 million of its
outstanding shares.
The company attributes the moves to the "ongoing success" of its
turnaround plan, which has resulted in an improved liquidity
position over the past 18 months.
The timing and amount of any share repurchases under the
authorization will be determined by management at its discretion
and based on market conditions and other considerations, including
compliance with the company's credit agreements.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 22, 2021 10:36 ET (14:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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