G-III Apparel drops CIT Group as agent for $250 million financing

By Angela McDaniels

Tacoma, Wash., July 23 - G-III Apparel Group, Ltd. said JPMorgan Chase Bank, NA replaced CIT Group/Commercial Services, Inc. as the agent under its financing agreement that provides for up to $250 million of borrowings.

The replacement took place Tuesday, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The company noted that CIT's commitment as part of its lending group is not affected by this change.

G-III is a New York-based manufacturer and distributor of outerwear and sportswear.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.