Ascena Retail gets $500 million amended and restated revolver

By Sara Rosenberg

New York, March 14 - Ascena Retail Group Inc. closed on a $500 million amended and restated revolving credit facility due June 14, 2018, according to an 8-K filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC and Bank of America Merrill Lynch acted as the joint lead arrangers and bookrunners on the deal that was completed on March 13.

Pricing on the revolver can range from Libor plus 150 basis points to 200 bps based on average availability.

Proceeds were used to replace a $250 million credit facility due June 14, 2017 and to repay a $263.5 million term loan, and are available for working capital requirements and capital expenditures, and for general corporate purposes.

Ascena Retail is a Suffern, N.Y.-based specialty retailer of apparel for women and tween girls.

© 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.