Talbots to launch $420 million term loan B on Tuesday morning

By Sara Rosenberg

New York, Oct. 26 – Talbots Inc. will hold a lender meeting at 10:30 a.m. ET on Tuesday to launch a $420 million five-year covenant-light term loan B, according to a market source.

Bank of America Merrill Lynch and KKR Capital Markets are the lead arrangers on the deal.

Expected term loan ratings are B2/B-.

Proceeds will be used to refinance existing first- and second-lien term loans.

Talbots is a Hingham, Mass.-based multi-channel retailer of women’s apparel.

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