Kellwood to repay revolver borrowings with asset sale proceeds

By Sara Rosenberg

New York, Nov. 25 - Kellwood Co. plans to pay down in full all of the borrowings under its revolving credit facility using proceeds from the sales of Gerber Childrenswear LLC and Hanna Andersson LLC, according to a news release.

Childrenswear LLC bought the two businesses from Kellwood for $179 million.

Of the total sale proceeds, about $145 million will be used for the revolver paydown and the rest will used for general corporate purposes.

Kellwood is a Chesterfield, Mo.-based women's apparel marketer.

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