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L Brands draws down $950 million under revolving credit facility
By Sarah Lizee
Olympia, Wash., March 27 – L Brands, Inc. elected on March 16 to draw down $950 million under its revolving credit facility in an abundance of caution and as a proactive measure, according to a press release.
The company currently has more than $2 billion in cash.
L Brands said it believes that this cash balance provides the company with sufficient current liquidity.
Based in Columbus, Ohio, L Brands owns the Victoria’s Secret, PINK and Bath & Body Works brands.
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