Lifetime Brands, Inc. Announces the Completion of the Term Loan B Amendment and Extension

GARDEN CITY, N.Y., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (Nasdaq: LCUT), a leading global provider of branded kitchenware, tableware and other products used in the home, announced the completion of the Term Loan B Amendment and Extension.

On November 14, 2023, the Company’s Term Loan B in the principal amount of $198.7 million due February 2025 has been amended and extended. The Term Loan, as amended and extended, will have a principal amount of $150.0 million and mature in August 2027. In connection with the amendment and extension, the Company borrowed on its asset-based loan facility to pay down $48.7 million of principal amount of the Term Loan B plus approximately $9 million to pay the original issue discount and related fees and expenses.

See the Company’s Form 8-K filed on November 15, 2023 for certain important changes to the terms and conditions of the Term Loan.

Lifetime Brands, Inc.

Lifetime Brands is a leading global designer, developer and marketer of a broad range of branded consumer products used in the home. The Company markets its products under well-known kitchenware brands, including Farberware, KitchenAid, Sabatier, Amco Houseworks, Chef’n Chicago Metallic, Copco, Fred & Friends, Houdini, KitchenCraft, Kamenstein, La Cafetière, MasterClass, Misto, Swing-A-Way, Taylor Kitchen, and Rabbit; respected tableware and giftware brands, including Mikasa, Pfaltzgraff, Fitz and Floyd, Empire Silver, Gorham, International Silver, Towle Silversmiths, Wallace, Wilton Armetale, V&A, Royal Botanic Gardens Kew and Year & Day; and valued home solutions brands, including BUILT NY, S’well, Taylor Bath, Taylor Kitchen, Taylor Weather and Planet Box. The Company also provides exclusive private label products to leading retailers worldwide.

The Company’s corporate website is www.lifetimebrands.com.

Contacts:

Lifetime Brands, Inc.

Laurence Winoker, Chief Financial Officer
516-203-3590
[e-mail]

or

Joele Frank, Wilkinson Brimmer Katcher

Ed Trissel / T.J. O'Sullivan / Carly King
212-355-4449