Helen of Troy Limited Announces Amendment to Existing Credit Agreement

Core Viewpoint - Helen of Troy Limited has announced an amendment to its existing credit agreement, enhancing financial flexibility and allowing for better navigation of the evolving trade and macroeconomic landscape [1][3]. Summary by Sections Credit Agreement Amendment - The amendment provides an extended holiday regarding the maximum Leverage Ratio and modifies the Interest Coverage Ratio by replacing an EBIT measure with an EBITDA measure [2]. - The commitment under the revolving credit facility has been reduced from $1.0 billion to $750 million, and an additional interest margin tier has been included at a net leverage ratio of 4 times or greater [2]. Management Commentary - Brian L. Grass, Chief Financial Officer, stated that the amendment was executed on favorable terms in partnership with Bank of America and the lender group, which unanimously approved the changes [3]. - The extended Leverage Ratio holiday and the change in the Interest Coverage Ratio definition are expected to provide greater flexibility without limiting borrowing capacity in the foreseeable future [3]. Company Overview - Helen of Troy Limited is a global consumer products company with a diversified portfolio of well-recognized brands, including OXO, Hydro Flask, and Braun [4].