Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

HSN Closes New $600 Mln 5-yr Credit Facility - Quick Facts

RELATED NEWS
Trade HSNI now with 

Interactive multichannel retailer HSN Inc. (HSNI: Quote) entered into a new $600 million five-year credit facility, replacing a $150 million revolving credit facility that was set to expire in July 2013. The new credit facility, including a $350 million Revolving Credit Facility and a $250 million delayed draw Term Loan, expires in April 2017.

Loans under the Revolver and the Term Loan bear interest at a per annum rate equal to LIBOR plus 1.50% to 2.25%, based on HSNI's leverage ratio, while the Term Loan must be drawn by December 31, 2012. Proceeds from the new credit facility are available for general corporate purposes, including working capital, capital expenditures, acquisitions, share repurchases and redemption of the company's $240 million 11.25% Senior Notes, due August 2016 and callable August 1, 2012 at a price of 105.625%.

Click here to receive FREE breaking news email alerts for HSN Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Oracle Corp. said Wednesday after the markets closed that its second quarter profit fell 2% from last year, hurt mainly by higher income tax expenses even as revenue increased 3%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Apple's iPhone-based Apple Pay system is gaining momentum nationwide with a host of new banks and retailers signing on. The system allows users to link a credit card directly to their device for payments and Apple now says they have deals with banks that account for 90 percent of the debit card transactions in the US. The current drop in fuel prices could lead to a major sales dip for electric automaker Tesla, according to some industry experts. The Elon Musk led manufacturer had predicted sales of over 500,000 new vehicles by 2020, but now that number could fall by as much as 40 percent.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.