G-III Apparel Group to pay down term loan with notes proceeds

By Sara Rosenberg

New York, July 28 – G-III Apparel Group Ltd. plans to repay its existing term loan due 2022 using proceeds from a $350 million senior secured notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes, including adding cash to the balance sheet, and to pay related fees and expenses.

G-III is a New York-based apparel and accessories company.

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