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

Quick Facts

Editors Pick
After moving sharply higher at the open, stocks have seen further upside over the course of the trading day on Thursday. The strong upward move on the day has more than offset the pullback that was seen in the previous session. Suggesting moderate growth in the short-term, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by more than economists had anticipated in the month of September. Eurozone's consumer confidence improved unexpectedly in October after weakening in the previous four months, preliminary data from the European Commission showed Thursday. The flash consumer confidence indicator rose to -11.1 from a seven-month low of -11.4 in September. Economists had forecast a...
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.