logo
Share SHARE
FONT-SIZE Plus   Neg

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

Interactive multichannel retailer HSN Inc. (HSNI) 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%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Facebook's Chief Operating Officer Sheryl Sandberg said the company would be a founding partner of Station F start-up garage in Paris. There will be more than 3000 desks for tech companies at the start-up garage. In its first ever start-up project, Facebook plans to have 80 desks and would initiate the activities by April. Book retailer Barnes & Noble has pulled off from shelves its Nook tablet due to a faulty charger, after launching the cheap 7-inch tablet in November to take on Amazon's popular Fire tablets. Nook tablet has been removed from brick and mortar stores as well from online. Barnes & Noble has not issued... Morgan Stanley (MS) reported fourth-quarter net income applicable to company of $1.7 billion, or $0.81 per share compared with income of $908 million, or $0.39 per share, for the same period a year ago. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share...
comments powered by Disqus
Follow RTT