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Jones Apparel Amends $650 Million Senior Secured Credit Facility
 
Wednesday, June 30, 2010
Jones Apparel Group completed an amendment and extension of its existing $650 million senior credit facility. J.P. Morgan Securities and Citigroup Global Markets were joint lead arrangers in the amendment process.

The amended terms and conditions provide for a decrease in fees and interest rates to current market rates and an extension of the maturity date to May 13, 2015. The amended terms and conditions also permit Jones to refinance its senior notes due in 2014. The credit facility is primarily used as backing for the issuance of trade letters of credit and other supply chain purposes, but also may be used for working capital and general corporate purposes. Currently, no cash borrowings are outstanding under the existing facility.

Previously on abfjournal.com:

Jones Apparel Consummates New $650 Million Credit Facility, Thursday, May 14, 2009



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