Signet Jewelers expects to get short-term loan for R2Net purchase

By Sara Rosenberg

New York, Aug. 25 – Signet Jewelers Ltd. plans on getting a short-term loan to help fund its acquisition of R2Net for $328 million in cash, according to a news release.

JPMorgan Chase Bank is the lead on the loan.

The company expects the term loan to be repaid in full by the end of fiscal 2018.

Closing is expected in the third quarter of fiscal 2018, subject to customary conditions and regulatory approval.

Signet Jewelers is a Hamilton, Bermuda-based retailer of diamond jewelry. R2Net is a New York-based operator of an e-commerce and supply chain platform that connects the span of the diamond industry’s ecosystem, including manufacturers, retailers and consumers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.