Levi Strauss holds bank meeting for $800 million loan on Wednesday

By Sara Rosenberg

New York, Dec. 11 - Levi Strauss & Co. held a bank meeting on Wednesday regarding a new $800 million credit facility, according to market sources. Scotiabank, Citibank and Bank of America are the lead banks on the deal.

The loan consists of a $400 million 31/2-year term loan B with an interest rate of Libor plus 400 basis points and a $400 million three-year revolver with an interest rate of Libor plus 375 basis points, market sources said.

The term loan B will be used to refinance existing debt.

Levi Strauss is a San Francisco brand name clothing company.

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