Jones Group buyout financing plans include $525 million of notes

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Jan. 21 - Jones Group Inc. expects to use new senior notes to take out a $525 million senior bridge loan backing its leveraged buyout, according to a schedule 14A filed with the Securities and Exchange Commission on Tuesday.

The Rule 144A deal will be led by Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and MCS Corporate Lending LLC.

The financing also includes a $650 million senior secured credit facility that will be led by BofA Merrill Lynch and Wells Fargo Securities LLC.

Proceeds will be used to help fund the buyout of the company by Sycamore Partners in a transaction expected to close in the second quarter of 2014.

Jones, a New York-based designer, marketer and wholesaler of apparel, footwear, jeanswear, jewelry and handbags, is being acquired for $15 per share in cash in a transaction valued at about $2.2 billion, including net debt.

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