Hudson's Bay closes on new C$250 million term loan at BA plus 225 bps

By Sara Rosenberg

New York, Nov. 28 - Hudson's Bay Co. closed on a new C$250 million two-year senior term loan that is priced at BA plus 225 basis points, according to a news release.

BMO Capital Markets and Canadian Imperial Bank of Commerce acted as the co-lead arrangers and joint bookrunners on the deal.

Proceeds, along with funds from an initial public offering, were used to repay a C$450 million term loan with GE Capital Canada Finance Inc.

Hudson's Bay is a Toronto-based retailer offering a selection of branded merchandise.

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