Tupperware reduces credit facility, extends maturity, cuts interest

By Tali Rackner

Norfolk, Va., June 12 – Tupperware Brands Corp. amended its multicurrency credit agreement on June 9 to reduce availability and extend the maturity, according to an 8-K filing with the Securities and Exchange Commission.

Total availability was reduced to $600 million from $650 million and the maturity date was pushed back to June 9, 2020 from Sept. 11, 2018.

In addition, pricing was lowered to Libor plus 137.5 basis points to 187.5 bps, and the commitment fee dropped to 17.5 bps to 30 bps.

JPMorgan Chase Bank is administrative agent and swingline lender, and J.P. Morgan Securities LLC, Credit Agricole Corporate and Investment Bank, HSBC Bank USA, NA, KeyBank NA and Mizuho Bank (USA) are joint lead arrangers and bookrunners.

Tupperware is an Orlando-based manufacturer and distributor of kitchenware, cosmetics and personal-care products.

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