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SELECTED TRANSACTION DETAILS
Wells Fargo Agents $880MM Refinance Facility for Tupperware Brands
Wednesday, November 24, 2021

Lenders/Participants Wells Fargo Securities [Joint Lead Arranger, Joint Bookrunner]
BMO Capital Markets [Joint Lead Arranger, Joint Bookrunner]
Fifth Third Bank [Joint Lead Arranger, Joint Bookrunner, Syndication Agent]
Truist Securities [Joint Lead Arranger, Joint Bookrunner, Syndication Agent]
Wells Fargo Bank [Administrative Agent, Swing Line Lender, Issuing Lender]
BMO Harris Bank [Syndication Agent]
Structure Secured Credit Facility
Amount $880.000 Million
Borrower(s) Tupperware Brands
Description A new secured credit facility in order to refinance its existing credit facilities. Highlights of the New Facility:Lowers interest rate on term loans by over 6 percentage points; Extends credit facility maturity by 2.5 years to 2026; Increases liquidity by approximately $100 million; Fully pre-payable at any time; Resets and simplifies financial covenants to enhance operating and capital allocation flexibility. The New Facility consists of a five-year, $480 million Revolving Credit Facility, and a five-year, $400 million Term Loan. The New Facility carries an interest rate of LIBOR plus 200 basis points. The Transaction lowers the company's cost of capital, extends maturity, resets financial covenants to enhance operating flexibility, and increases liquidity through a higher level of revolver capacity.
Industry Consumer Products
Related Tags BMO Capital Markets, BMO Harris Bank Asset Based Lending Group, Fifth Third Bank, Truist Securities, Wells Fargo Securities




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