Kellwood closes on $240 million three-year facility

New York, May 9 - Kellwood Co. said it closed on a $240 million three-year unsecured credit facility.

Banc of America Securities LLC was the sole lead arranger and sole book manager, Bank of

America, NA was administrative agent, JPMorgan Chase Bank was syndication agent and USBank and The Bank of Nova Scotia were co-documentation agents. Bank One is a co-agent. Other banks in the syndicate are Mizuho Corporate Bank, Ltd., The Bank of New York, UMB Bank, NA, First Bank and Israel Discount Bank of New York.

Kellwood said the new facility along with the nearly $150 million of cash it had at April 30 will provide "ample liquidity and financial flexibility to meet the operating, strategic, and corporate development needs of the company."

The St. Louis, Mo. apparel and camping products marketer will use borrowings for working capital, general corporate purposes and to fund acquisitions.

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