St. John Knits looking to refinance 12½% notes

New York, Feb. 15 - St. John Knits International Inc. said it is looking to refinance its outstanding debt, including redeeming its 12½% senior subordinated notes due 2009.

St. John Knits also said that on completion of the refinancing it intends to buy 450,000 shares of common stock from trusts controlled by the Gray Family at a price of $30.00 per share, or $13.5 million in total.

Following the redemption of the notes, the Irvine, Calif., designer, manufacturer and marketer of women's clothing and accessories will no longer file reports with the Securities and Exchange Commission.

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