Levi Strauss readies launch of $850 million ABL revolver for Tuesday

By Sara Rosenberg

New York, Sept. 8 - Levi Strauss & Co. is scheduled to hold a bank meeting on Tuesday to launch a proposed $850 million ABL revolving credit facility, according to a market source.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Wells Fargo Securities LLC and HSBC Securities (USA) Inc. are the lead banks on the deal.

Price talk on the revolver is Libor plus 175 basis points with a 50 bps unused fee, the source said.

Proceeds will be used to refinance an existing revolver.

Levi Strauss is a San Francisco-based apparel maker.

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