Weight Watchers draws on revolver to buyback remaining 13% senior notes

By Ted A. Knutson

Washington, Nov. 10 - Weight Watchers International, Inc. repurchased the remaining $5.1 million and €8.4 million of its 13% senior subordinated notes on Oct. 1, the company said Wednesday in a 10-Q filing with the Securities and Exchange Commission

The moved helped to lower the average interest rate on Weight Watchers' debt to 3.5% as of Oct. 2.

Weight Watchers funded the redemption with borrowings from its revolving credit line

Woodbury, N.Y.-based weight control services company took a second quarter charge of $1 million for the redemption.

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