National Vision Announces Settlement of 2025 Convertible Senior Notes
DULUTH, Ga.--(BUSINESS WIRE)--National Vision Holdings, Inc. (NASDAQ: EYE) ('National Vision' or the 'Company') today announced the settlement of the remaining $84.8 million aggregate principal amount of 2.5% unsecured convertible senior notes due May 15, 2025 (the '2025 Convertible Notes'). The settlement was made with $59.8 million from cash on hand and the remaining borrowed under the Company's revolving credit facility.
Chris Laden, Chief Financial Officer of National Vision, said, 'Our strong cash generation and solid balance sheet support our ongoing approach to a balanced capital allocation strategy, which has included the opportunistic repurchases and the final settlement of our convertible notes. As we look ahead, we will continue to utilize our capital allocation strategy to ensure we are well-positioned to drive growth and deliver long-term shareholder value.'
Following the settlement, the Company has $268.6 million of availability under its revolving credit facility.
About National Vision Holdings, Inc.
National Vision Holdings, Inc. (NASDAQ: EYE) is one of the largest optical retail companies in the United States with over 1,200 stores in 38 states and Puerto Rico. With a mission of helping people by making quality eye care and eyewear more affordable and accessible, the company operates four retail brands: America's Best, Eyeglass World, and Vista Opticals inside select Fred Meyer stores and on select military bases, and an e-commerce website DiscountContacts.com, offering a variety of products and services for customers' eye care needs. For more information, please visit www.nationalvision.com.
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