Levi Strauss launches $200 million revolver add-on

By Sara Rosenberg

New York, Sept. 19 - Levi Strauss & Co. held a bank meeting on Wednesday morning to launch its proposed $200 million revolver add-on, according to a company spokesman.

Bank of America and Credit Suisse are the lead arrangers on the deal.

With this add-on, the company's senior secured revolver will carry a total size of $750 million. Within that $750 million, $250 million will be secured by the Levi's trademark in the United States.

The add-on is being done in conjunction with, and is a condition of, the company's cash tender offer for any and all of its outstanding $525 million of 12¼% senior notes due 2012.

The tender offer will expire on Oct. 17.

Levi Strauss is a San Francisco-based apparel maker.

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