J. Crew gets $200 million amended and restated revolver

By Sara Rosenberg

New York, May 9 - J. Crew Group Inc. closed on a $200 million amended and restated revolving credit facility due May 4, 2013, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Citicorp is the administrative agent on the deal that was completed on May 4, with Bank of America and Wachovia Bank as syndication agents.

Pricing on the revolver can range from Libor plus 100 to 125 basis points.

The revolver has a $50 million accordion feature.

The company must maintain a minimum fixed-charge coverage ratio of 1.10 to 1.00 if excess availability under the facility is less than $20 million.

J. Crew is New York-based apparel and accessories retailer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.