Lands’ End prepays $100 million of term facility using cash on hand

By Sarah Lizee

Olympia, Wash., April 30 – Lands' End, Inc. prepaid $100 million of its term loan facility with excess cash on hand, according to a press release.

The remaining balance of the term loan facility after the prepayment is $389.25 million maturing April 4, 2021.

The prepayment of debt is expected to generate estimated interest savings of $3 million to $4 million on an annualized basis, the company said.

Lands’ End is a Dodgeville, Wis.-based retailer of casual clothing, accessories, footwear and home products.

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