Prestige Consumer Healthcare Secures $1.045B Term Loan, Expands ABL to $225M for Acquisitions
Summary
Prestige Consumer Healthcare secured a $1.045 billion term loan and expanded its asset-based lending facility to $225 million. This significant financing directly funds the recently completed Breathe Right acquisition, which was finalized yesterday. It also provides enhanced liquidity and flexibility for future strategic moves, including the previously announced LaCorium Health acquisition. This move solidifies the company's capital structure to support its growth strategy.
At the time of this announcement, PBH was trading at $47.87 on NYSE in the Life Sciences sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $42.62 to $85.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.