rue21 plans new debt financing for buyout by Apax Partners

By Sara Rosenberg

New York, May 23 - rue21 inc. has received a debt commitment to help fund its purchase by Apax Partners for $42 per share, or about $1.1 billion, according to a news release.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Goldman Sachs & Co. are leading the financing.

Closing is expected by year-end, subject to shareholder approval and customary conditions.

There is a 40-day go-shop period.

rue21 is a Warrendale, Pa.-based retailer of girls and guys apparel and accessories.

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