Aéropostale amends revolving credit facility, ups size to $175 million

By Aleesia Forni

Columbus, Ohio, Sept. 28 - Aéropostale Inc. entered into an amended and restated $175 million revolving credit facility, according an 8-K filed with the Securities and Exchange Commission on Sept. 22.

Pricing on the revolver is initially Libor plus 150 basis points and will also be that level while the average borrowings outstanding are less than $87.5 million, and Libor plus 175 bps if average borrowings outstanding are $87.5 million or more.

Unused fees are set at 25 bps, and the maturity date of this facility is Sept. 22, 2016.

Proceeds may be used for working capital, repurchase of capital stock, capital expenditures and other general corporate purposes.

This revolver replaces an existing $150 million facility, set to expire in November 2012.

Merrill Lynch, Pierce, Fenner & Smith Inc. is lead arranger and bookrunner, while Bank of America NA serves as agent.

Aéropostale is a New York-based specialty retailer of casual apparel and accessories.

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