Abercrombie & Fitch to offer up to $300 million of notes due 2025

By Sarah Lizee

Olympia, Wash., June 17 – Abercrombie & Fitch Co. subsidiary Abercrombie & Fitch Management Co. plans to offer up to $300 million of senior secured notes due 2025 (Ba2/BB-), according to a press release.

The Rule 144A issue is subject to market conditions.

Abercrombie & Fitch Management intends to use the net proceeds from the offering to repay all outstanding borrowings under its existing senior secured term loan facility and a portion of the outstanding borrowings under its amended asset-based facility.

Abercrombie is a New Albany, Ohio-based specialty retailer offering an assortment of apparel, personal care products and accessories for men, women and kids.

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