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Vitamin Shoppe gets $25 million term loan, extends revolver maturity
By Sara Rosenberg
New York, Jan. 24 - Vitamin Shoppe Inc. amended and restated its credit facility, providing for a new $25 million term loan due Jan. 18, 2013 and pushing out the maturity of its $70 million revolver by two years to Sept. 25, 2015, according to an 8-K filed with the Securities and Exchange Commission on Monday.
Pricing on the term loan is Libor plus 375 basis points, and pricing on the revolver is Libor plus 250 bps.
Proceeds from the term loan, along with cash on hand and revolver borrowings, will be used to fund the redemption of the company's roughly $55 million of second-priority senior secured floating-rate notes due 2012.
The amendment and restatement was completed on Jan. 20.
JPMorgan is the administrative agent on the deal.
Vitamin Shoppe is a North Bergen, N.J.-based specialty retailer and direct marketer of nutritional products.
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