Weight Watchers talks $1.39 billion term B at Libor plus 375-400 bps

By Sara Rosenberg

New York, Nov. 9 – Weight Watchers International Inc. launched on Thursday its $1.39 billion seven-year term loan B with price talk of Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan includes 101 soft call protection for six months, the source said.

The company’s $1.54 billion of credit facilities (Ba3/B) also provide for a $150 million revolver due 2022.

J.P. Morgan Securities LLC is the lead bank on the deal.

Commitments are due at noon ET on Nov. 17, the source added.

Proceeds will be used to refinance existing debt.

Weight Watchers is a New York-based provider of weight management services.

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