Stuart Weitzman to launch $255 million credit facility on Wednesday

By Sara Rosenberg

New York, Feb. 13 - Stuart Weitzman LLC set a bank meeting for 9:30 a.m. ET on Wednesday to launch its proposed $255 million senior secured credit facility, according to a market source.

The facility consists of a $35 million asset-based revolver and a $220 million term loan.

Jefferies Finance LLC and MCS Corporate Lending LLC are leading the term loan, and Wells Fargo Securities LLC is leading the revolver.

Proceeds will be used to help fund the buyout of the company by Sycamore Partners.

Closing on the buyout is subject to completion of the purchase of Stuart Weitzman's parent company, Jones Group Inc., by Sycamore Partners, LP.

Stuart Weitzman is a New York-based footwear and handbag company.

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