Tupperware Brands Restructures Debt

August 4, 2023

(24/7 MARKET NEWS) – Tupperware Brands Corporation (NYSE:TUP) stated, after yesterday’s market close, that it finalized an agreement with its lenders to restructure its existing debt obligations, improving its overall financial position by amending certain credit obligations and extending the maturity of certain debt facilities to allow it to continue with its turnaround efforts.

The agreement includes the reduction/reallocation of approximately $150 million of cash interest and fees, the extension of the stated maturity of approximately $348 million of principal and reallocated interest and fees to fiscal year 2027 with PIK interest, the reduction of amortization payments required to be paid through fiscal year 2025 by approximately $55 million, and immediate access to revolving borrowing capacity of approximately $21 million.Tupperware is trading at $5.54, up $2.02 (+57.39%), on 9.31M premarket shares traded.Its 52-week range is $0.61 to $12.86. We’ve provided multiple inflection points that it’s broken through and its next key inflection points are $5.99, Tuesday’s high, and $6.45, this morning’s premarket high. If it breaks through those, and the trading volume strengthens, it will return to attempting to refill the gap to the $8 trading level.24/7 MARKET NEWS, INC Disclaimer24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make. Please go to 247marketnews.com or https://247marketnews.com/terms-disclaimer/ for further information.

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