Abercrombie & Fitch draws down full $150 million under term loan

By Marisa Wong

Madison, Wis., Feb. 26 - Abercrombie & Fitch Co. subsidiary Abercrombie & Fitch Management Co. elected to draw down the full $150 million available under its term loan on Feb. 21, according to an 8-K filing with the Securities and Exchange Commission.

The term loan agreement, originally dated Feb. 24, 2012 with PNC Bank, NA as agent, has an effective interest rate of 1.96% and will mature on Feb. 23, 2017.

The term loan was recently reduced to $150 million from $300 million under an amendment completed on Jan. 23.

Abercrombie & Fitch is a clothing retailer based in New Albany, Ohio.

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