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

HSN Adds COO Role To CFO Judy Schmeling

HSN Promotes Judy Schmeling To COO And CFO - Quick Facts

HSN Q1 13 Earnings Conference Call At 9:00 AM ET

Trade HSNI now with

4/25/2012 9:15 AM ET

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

<<Previous 126 Articles

Editors Pick

HP Profit Falls Yet Tops Estimates

Hewlett-Packard Co. said Wednesday after the markets closed that its second quarter profit fell 32% from last year, hurt by lower revenue and weaker margins amid a slump in PC sales. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast.

Worries About Fed Tapering Lead To Sell-Off On Wall Street - U.S. Commentary

Stocks showed a substantial downturn over the course of the trading day on Wednesday after seeing some strength in morning trading. Renewed worries about the Federal Reserve tapering its asset purchase program contributed to the sharp pullback by the markets. The major averages climbed off their worst levels going into the close but still ended the day firmly negative.

Fed Minutes Show Some Members Want To Scale Back QE3 This Summer

Some members of the Federal Reserve favor scaling back the central bank's $85 billion a month asset purchase program this summer as long as the economy continues to improve, according the the minutes of the Fed's April 30-May 1 meeting. "A number of participants expressed willingness to adjust the...