The Hain Celestial Group, Inc., a leading organic and natural products company, has received a limited waiver and extension of certain obligation under its unsecured credit facility from its lenders regarding the delivery of its fiscal year 2016 financial statements and, if necessary, its first quarter fiscal year 2017 financial statements until Dec. 27, 2016. This will allow Hain Celestial to be compliant with its borrowing obligations while the Company works to complete the filing of its Annual Report on Form 10-K for its fiscal year ended June 30, 2016. The unsecured $1 billion senior credit facility is scheduled to mature in December 2019 and may be increased by an additional $350 million provided certain conditions are met.

"We are pleased to receive the support of our bank group led by Bank of America Merrill Lynch and Wells Fargo in securing this waiver and extension," commented Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. "Our lenders allow us to maintain the operating flexibility for a solid financial platform with working capital and acquisition capital to support our strategic growth initiatives."

As of June 30, there were $828 million in borrowings under the credit agreement, which included the Company utilizing its revolving credit facility to redeem its $150 million of senior notes as well as the $114 million acquisition of Orchard House Foods in December 2015. The $828 million compares to $660 million of revolving credit and $150 million in senior notes in the prior year period. The Company had $128 million in cash from its worldwide operations at June 30, 2016.

Hain Celestial has operations in North America, Europe and India and provides consumers with what the company calls “A Healthier Way of Life.”