Prestige Brands, Inc.: Loan Covenant Quality Snapshot
CORPORATES ISSUER IN-DEPTH 21 July 2017 Facility Size; Maturity: Term B-4: $1,427m; 26 Jan 2024 (but springing maturity to 91 days before the 2021 Notes maturity date or 2024 Notes maturity if either has > $100m of debt outstanding) Incremental: $350m plus amount so consolidated first lien net leverage ratio ≤ 4.0x Pricing: Term B: Eurocurrency rate + 2.75% / ABR + 1.75% initiallPrestige Consumer Healthcare is a holding company. Through its subsidiaries, the company develops, manufactures, markets, sells and distributes over-the-counter (OTC) healthcare products to mass merchandisers and drug, food, dollar, convenience, and club stores in North America (the U.S. and Canada) and in Australia and certain other international markets. The company's portfolio of OTC Healthcare products includes, among others, DenTek oral care products, Monistat women's health products, Nix lice treatment products, Chloraseptic sore throat treatments, Clear Eyes eye care products, Compound W wart treatments, Luden's throat drops, BC and Goody's pain relievers and Debrox earwax remover.
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