Lifetime Brands, Inc. Announces the Completion of the Term Loan B Amendment and Extension
November 15, 2023 at 07:00 am EST
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Lifetime Brands, Inc. announced the completion of the Term Loan B Amendment and Extension. On November 14, 2023, the company?s Term Loan B in the principal amount of $198.7 million due February 2025 has been amended and extended. The Term Loan, as amended and extended, will have a principal amount of $150.0 million and mature in August 2027.
In connection with the amendment and extension, the Company borrowed on its asset-based loan facility to pay down $48.7 million of principal amount of the Term Loan B plus approximately $9 million to pay the original issue discount and related fees and expenses.
Lifetime Brands, Inc. designs, sources and sells branded kitchenware, tableware and other products used in the home. The Company operates through two segments: United States and International. The Company designs, markets and distributes its products to retailers, distributors and directly to consumers through retail Websites. The Company's product categories include two categories of products used to prepare, serve, and consume foods, including Kitchenware (kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantry ware, spice racks and bakeware) and Tableware (dinnerware, stemware, flatware, and giftware). Its Home Solutions category includes products used in the home (thermal beverageware, bath scales, weather and outdoor household products, food storage, neoprene travel products and home decor). Its brands include Farberware, Mikasa, KitchenAid, Taylor, BUILT NY, KitchenCraft, Kamenstein, Pfaltzgraff, Rabbit, and MasterClass.
LIFETIME BRANDS, INC. 
