By Inside Retail Asia
Household products company Tupperware Brands has sealed a deal with lenders to restructure its debt obligations, which is expected to help improve the business’s financial position and avoid bankruptcy.
The agreement includes the reallocation of US$150 million of cash interest and fees, and the extension of the stated maturity of principal and reallocated interest and fees worth $348 million to FY27.
The company is also entitled to the reduction of amortisation payments required to be paid in FY25 by $55 million and immediate access to a revolving borrowing capacity of $21 million.
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