Lifetime Brands, Inc. (NASDAQ: LCUT) announced it has completed a refinancing of its credit facilities, replacing its existing Term Loan B with a new $60 million second lien term loan and amending its $200 million asset-based revolving credit facility.

The new second lien term loan was provided by Pathlight Capital, while the asset-based revolving credit facility is agented by JPMorgan. Both facilities now mature in August 2031.

"This refinancing extends our debt maturity, enhances our financial flexibility," said Rob Kay, Chief Executive Officer. "It reflects the continued strength of our business and positions us well to invest in our operations and continue executing on our long-term strategy."

The company said it will file a Current Report on Form 8-K with the Securities and Exchange Commission within four business days of the announcement.