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February 06, 2016 4:51 AM ET

Healthcare Providers and Services

Company Overview of Prestige Brands Inc.

Company Overview

Prestige Brands Inc. markets and distributes over-the-counter healthcare and household cleaning products in the United States, Canada, Australia, and internationally. It offers oral rehydration, digestive care, household cleaning, hygiene, oral care, pain relief, pediatric care, sleep aids, and skin care products, as well as eye, ear, nose, and throat care products. The company’s products include throat drops, ear wax removal system s, nasal allergy sprays, granular powders, therapeutic solutions for lice and scabies infestations, denture cleansers, dental protectors, antiseptic oral cleansers, denture adhesives, headache powders, pain relievers, liquid bandages, and lip balms; and products ...

660 White Plains Road

Suite 250

Tarrytown, NY 10591

United States

Phone:

914-524-6819

Fax:

914-524-6815

Key Executives for Prestige Brands Inc.

Chief Executive Officer and President
Age: 51
Chief Financial Officer
Age: 50
Vice President of Operations
Age: 50
Vice President of Strategic Planning, Canada and Household Products
Age: 61
Executive Vice President of Sales & Marketing
Age: 52
Compensation as of Fiscal Year 2015.

Prestige Brands Inc. Key Developments

Prestige Brands Holdings, Inc. and Prestige Brands, Inc. Amendment No. 2 to the Term Loan Credit Agreement

On September 3, 2014, Prestige Brands Holdings, Inc. (the 'company') and its wholly-owned subsidiary, Prestige Brands, Inc. ('Borrower'), entered into (i) Amendment No. 2 to the Term Loan Credit Agreement (as amended by Amendment No. 1, dated as of February 21, 2013, the "Term Loan Credit Agreement"), dated as of January 31, 2012, among the Borrower, the Company, the other guarantors from time to time party thereto, each lender from time to time party thereto and Citibank, N.A., as administrative agent and (ii) Amendment No. 3 to the ABL Credit Agreement (as amended by that certain Incremental Amendment, dated as of September 12, 2012, and that certain Incremental Amendment, dated as of June 11, 2013, the "ABL Credit Agreement"), dated as of January 31, 2012, among the Borrower, the Company, the other guarantors from time to time party thereto, each lender from time to time party thereto and Citibank, N.A., as administrative agent, L/C issuer and swing line lender. The Term Loan Amendment provides for (i) the creation of a new class of Term B-2 Loans under the Term Loan Credit Agreement in an aggregate principal amount of $720.0 million, (ii) increased flexibility under the Term Loan Credit Agreement, including but not limited to additional investment, restricted payment and debt incurrence flexibility and financial maintenance covenant relief and (iii) an interest rate on (x) the Term B-1 Loans that is based, at the Borrower's option, on a LIBOR rate plus a margin of 3.125% per annum, with a LIBOR floor of 1.00%, or an alternate base rate plus a margin, and (y) the Term B-2 Loans that is based, at the Borrower's option, on a LIBOR rate plus a margin of 3.50% per annum, with a LIBOR floor of 1.00%, or an alternate base rate plus a margin (with a margin step-down to 3.25% per annum, based upon achievement of specified secured net leverage ratio). The ABL Amendment provides for (i) a $40.0 million increase in revolving commitments under the ABL Credit Agreement and (ii) increased flexibility under the ABL Credit Agreement, including but not limited to additional investment, restricted payment and debt incurrence flexibility. The Company intends to use the net proceeds from the Term B-2 Loans to finance the previously announced acquisition of the stock of Insight Pharmaceuticals Corporation ("Insight"), to repay its existing senior secured credit facilities, to pay fees and expenses incurred in connection with these transactions and for general corporate purposes.

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