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TUPPERWARE BRANDS CORPORATION

(TUP)
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Tupperware Brands Corporation Reduces Borrowing Costs and Increases Financial Flexibility with New $880 Million Credit Facility

11/23/2021 | 04:30pm EST

Tupperware Brands Corporation announced that it has successfully raised $880 million in a new secured credit facility in order to refinance its existing credit facilities. Highlights of the New Facility: Lowers interest rate on term loans by over 6% points; Extends credit facility maturity by 2.5 years to 2026; Increases liquidity by approximately $100 million; Fully pre-payable at any time; Resets and simplifies financial covenants to enhance operating and capital allocation flexibility. The New Facility consists of a five-year, $480 million Revolving Credit Facility, and a five-year, $400 million Term Loan. The New Facility carries an interest rate of LIBOR plus 200 basis points. The Transaction lowers the company's cost of capital, extends maturity, resets financial covenants to enhance operating flexibility, and increases liquidity through a higher level of revolver capacity. The Term Loan includes a ?176 million Euro tranche, which aligns with the Company's international business footprint, operational needs, and evolving tax strategy. In combination with lower absolute debt outstanding, the New Facility is expected to lower the Company's overall net interest expense and be a tailwind to earnings growth on a go-forward basis.


ę S&P Capital IQ 2021
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Analyst Recommendations on TUPPERWARE BRANDS CORPORATION
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Financials (USD)
Sales 2021 1 640 M - -
Net income 2021 91,6 M - -
Net Debt 2021 477 M - -
P/E ratio 2021 36,4x
Yield 2021 -
Capitalization 695 M 695 M -
EV / Sales 2021 0,71x
EV / Sales 2022 0,66x
Nbr of Employees 10 698
Free-Float -
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Technical analysis trends TUPPERWARE BRANDS CORPORATION
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 14,21 $
Average target price 31,25 $
Spread / Average Target 120%
EPS Revisions
Managers and Directors
Miguel Angel Fernandez Calero President, Chief Executive Officer & Director
Cassandra Harris Executive VP, Chief Operating & Financial Officer
Susan M. Cameron Non-Executive Chairman
M. Anne Szostak Independent Director
Richard T. Riley Independent Director
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