Tupperware Brands Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
$TUP
Plastic Products
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On June 28, 2024, Tupperware Brands Corporation (the “Company”), Tupperware Products AG (together with the Company, collectively, the “Borrowers”), certain other subsidiaries of the Company, the Administrative Agent (as defined below), and certain of the Lenders (as defined below), among others, amended (such amendment, the “Forbearance Amendment”) that certain Forbearance Agreement, dated as of February 13, 2024 (as amended by that certain Amendment to Forbearance Agreement, dated as of June 3, 2024, the “Forbearance Agreement”), by and among, among others, the Borrowers, certain other subsidiaries of the Company, Wells Fargo Bank, National Association, as administrative agent (the “Administrative Agent”), and the Lenders (as defined therein and used herein with the same meaning) party thereto.
As previously disclosed in the Current Report on Form 8-K filed on June 5, 2024, the Forbearance Agreement provides for, among other things, the Company’s compliance with specified milestones with respect to business planning and repayment transactions (each such milestone, a “Forbearance Agreement Milestone”) until the earlier of (a) June 30, 2024 at 11:59 p.m. Eastern time (the “Forbearance Termination Date”) and (b) the date and time on which the Administrative Agent (at the direction of the majority Lenders) elects to terminate the Forbearance Agreement in accordance with its terms. The Forbearance Amendment (a) extends the Forbearance Termination Date to July 7, 2024 at 11:59 p.m. Eastern time (as such date may be extended for a period not to exceed five (5) business days by the Administrative Agent in its sole discretion) and (b) extends certain Forbearance Agreement Milestones related to the entry into a definitive agreement with respect to certain repayment transactions from June 22, 2024 (which had previously been extended by the Administrative Agent in its sole discretion to June 28, 2024) to July 7, 2024.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report is incorporated by reference into this item.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TUPPERWARE BRANDS CORPORATION | |||||||||||
| Date: | July 1, 2024 | By: | /s/ Karen M. Sheehan | ||||||||
| Karen M. Sheehan | |||||||||||
| Executive Vice President, Chief Legal Officer & Secretary | |||||||||||