Abercrombie & Fitch repays all term loan and ABL revolver borrowings

By Taylor Fox

Chicago, July 2 – Abercrombie & Fitch Co. indirect subsidiary Abercrombie & Fitch Management Co. repaid all $233 million of outstanding borrowings under its existing senior secured term loan facility and a portion of outstanding borrowings under its senior secured asset-based revolving credit facility using proceeds from an offering of $350 million of 8¾% senior secured notes due 2025.

The remainder of the revolver was paid with cash on hand, according to a press release.

Proceeds from the note offering were also used to pay expenses in connection with the repayments.

Abercrombie is a New Albany, Ohio-based specialty retailer, offering an assortment of apparel, personal care products and accessories for men, women and kids.

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