Zale looks to extend revolver, reduce fees

By Sara Rosenberg

New York, Dec. 9 - Zale Corp. is in negotiations with lenders about extending the term of its $500 million revolving credit facility until August 2009 and reducing various fees, according to a 10-Q filed with the Securities and Exchange Commission Thursday.

Currently, borrowings under the revolver carry an interest rate of Libor plus 150 basis points and the commitment fee is set at 37.5 basis points.

Zale is an Irving, Texas-based specialty retailer of fine jewelry.

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