Mothers Work to refinance 11 ¼% notes with term loan

By Michelle Anderson

Rochester, N.H., Feb. 28 - Mothers Work, Inc. announced it will refinance the $90 million of remaining outstanding principal of its 11¼% senior notes due 2010 with a term loan.

As previously reported, the company said in January that it was looking for ways to refinance the notes with lower cost debt.

The company expects that the refinancing of the notes with a senior secured term loan B will likely result in a one-time charge to earnings but also lead to decreased interest expense on an ongoing basis.

Mothers Work, Inc. is a Philadelphia-based designer and retailer of maternity apparel.

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