Stuart Weitzman launches $220 million term B at Libor plus 400 bps

By Sara Rosenberg

New York, Feb. 18 - Stuart Weitzman LLC launched on Wednesday its $220 million six-year term loan B (B3) with price talk of Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

The B loan has 101 soft call protection for six months, the source said.

The company's $255 million senior secured credit facility also includes a $35 million asset-based revolver.

Commitments are due on March 5, the source added.

Jefferies Finance LLC and MCS Corporate Lending LLC are leading the term loan, and Wells Fargo Securities LLC is leading the revolver.

Proceeds will be used to help fund the buyout of the company by Sycamore Partners.

Closing on the buyout is subject to completion of the purchase of Stuart Weitzman's parent company, Jones Group Inc., by Sycamore Partners, LP.

Stuart Weitzman is a New York-based footwear and handbag company.

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