G-III Apparel completes $450 million revolver led by JPMorgan

By Sara Rosenberg

New York, Aug. 7 - G-III Apparel Group Ltd. closed on a new $450 million five-year revolving credit facility, according to a news release.

J.P. Morgan Securities LLC was the lead bank on the deal.

Proceeds were used to refinance an existing $300 million credit facility and to fund the cash portion of the acquisition of Vilebrequin, a Geneva-based manufacturer and distributor of luxury swimwear, accessories and resort-wear.

The purchase price for Vilebrequin was €85.5 million, of which €70.5 million was paid in cash.

G-III is a New York-based manufacturer and distributor of outerwear, dresses, sportswear, swimwear, beachwear and women's suits, as well as handbags and luggage.

© 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.