Men’s Wearhouse lifts term loan to $400 million, firms pricing

By Sara Rosenberg

New York, April 2 – Men’s Wearhouse Inc. upsized its fixed-rate term loan due June 18, 2021 to $400 million from $300 million and set pricing at 5%, the tight end of the 5% to 5¼% talk, according to a market source.

In addition, the offer price on the loan was revised to par from 99¾, the source said.

The loan is still non-callable for one year, then at 102 in year two and 101 in year three.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance some of the term loan debt that was used last year for the acquisition of JoS. A Bank Clothiers Inc.

Men’s Wearhouse is a Houston-based specialty retailer of men’s apparel.

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