12:05 PM EDT, 08/08/2024 (MT Newswires) -- National Vision Holdings ( EYE ) said Thursday it agreed to repurchase $218 million principal amount of 2.5% convertible notes due 2025.

The aggregate cash repurchase price for the notes is about $215 million plus accrued and unpaid interest on the notes, according to the company.

National Vision ( EYE ) also said it secured commitments to amend its existing credit agreement for $115 million of incremental term loan at the same terms as the existing loan.

The commitments are expected to close and be funded on Friday, while the repurchase transaction will close on or about Monday, the company added.

The company said after the completion of the repurchase deal remaining outstanding principal amount of 2025 notes will be about $85 million.

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