Express to get debt financing via Morgan Stanley for buyout by Golden Gate

By Sara Rosenberg

New York, May 16 - Express is planning on getting new debt financing via lead bank Morgan Stanley to help back its buyout by Golden Gate Capital, according to a news release.

Golden Gate is buying a 67% ownership interest in the company from Limited Brands, Inc. for cash proceeds of $548 million.

The transaction is expected to close no later than July 6 and is subject to customary conditions.

Express is a Columbus, Ohio, fashion brand with 631 store locations. Net sales for 2006 were $1.7 billion.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.