Tupperware Brands borrows $225 million under credit facility

By Sara Rosenberg

New York, April 3 – Tupperware Brands Corp. drew down $225 million under its credit facility, according to an 8-K filed with the Securities and Exchange Commission on Friday.

An amount of $175 million was drawn as a proactive measure given the uncertain environment resulting from the Covid-19 pandemic, and the remaining amount of $50 million was drawn for customary working capital needs during the second quarter.

The draw was made on March 30.

JPMorgan Chase Bank is the administrative agent.

Tupperware is an Orlando, Fla.-based multi-level marketing company with a main focus on kitchen and household products.

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