Kate Spade plans to launch $400 million term loan B on Thursday

By Sara Rosenberg

New York. March 26 - Kate Spade & Co. will hold a bank meeting on Thursday to launch a $400 million covenant-light term loan B, according to sources.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Wells Fargo Securities LLC and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

Proceeds will be used to refinance some bonds and pay down ABL credit facility borrowings, sources said.

Kate Spade is a New York-based designer and marketer of accessories and apparel.

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