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HELEN OF TROY LTD FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

July 3, 2014

Item 2.03 Creation of a Direct Financial Obligation or an



Obligation under an Off-Balance Sheet Arrangement of a Registrant.

As previously disclosed, Helen of Troy Limited, a Bermuda company (the "Company"), and Helen of Troy, L.P., a Texas limited partnership (the "Borrower"), entered into the Credit Agreement, dated December 30, 2010, by and among the Company, the Borrower, Bank of America, N.A., and the other lenders party thereto (as amended, the "Credit Agreement"). The Credit Agreement was amended on June 11, 2014 to, among other things, increase the unsecured revolving commitment of the Credit Agreement from $375 million to $570 million subject to the terms and limitations described in the Credit Agreement. On June 30, 2014, a principal amount of $271 million was borrowed under the Credit Agreement. The proceeds of the borrowing and cash on hand were used to (i) pay all of the cash consideration payable for the acquisition of the membership interests of Healthy Directions, LLC ( the "Acquisition"), (ii) refinance certain existing indebtedness of the Company, Healthy Directions, LLC and their subsidiaries and (iii) pay costs and expenses incurred in connection with the Acquisition. The commitment under the Credit Agreement terminates on December 30, 2015.

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Source: Edgar Glimpses


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