Levis Strauss talks $325 million seven-year term loan at Libor plus 225 bps at a discount

By Paul A. Harris

St. Louis, March 1 - Levi Strauss & Co. will host an investor call at 9 a.m. ET on Friday to present its $325 million seven-year senior unsecured term loan, according to an informed source.

The San Francisco apparel maker has given initial guidance of Libor plus 225 basis points, with the loans to be priced at a discount.

Pricing is expected during the March 5 week.

Banc of America Securities LLC is the lead bookrunner. Goldman Sachs & Co. is the joint bookrunner.

The loans are expected to be non-callable for one year and then at par thereafter.

Credit ratings remain to be determined.

Proceeds, along with cash on hand, will be used to call the company's existing floating-rate notes due 2012.

© 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.