Men’s Wearhouse obtains $400 million of tranche B-1 term loans

By Tali Rackner

Norfolk, Va., April 8 – Men’s Wearhouse, Inc. entered into a first incremental facility agreement via administrative agent JPMorgan Chase Bank, NA to allow $400 million of tranche B-1 term loans, according to an 8-K filing with the Securities and Exchange Commission.

Loans are subject to a fixed interest rate of 5% per annum.

Net proceeds were used to refinance a portion of the term loans under the existing credit agreement. As a result, the addition of the new term loans did not impact the total amount borrowed under the existing agreement.

The B-1 term loans mature on June 18, 2021, the same date as the loans under the existing agreement.

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

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