G-III Apparel Group Ltd. announced that it has priced $400 million aggregate principal amount of 7.875 percent senior secured notes due 2025.
The notes will be senior secured obligations of, and will be guaranteed on a senior secured basis by, each of the company’s subsidiaries that are guarantors under its senior secured credit facilities. The notes offering are expected to close on August 7, 2020, subject to customary closing conditions.
The company intends to use the net proceeds of the Offering to repay its existing term loan facility due 2022, to pay related fees and expenses and for general corporate purposes.
Photo courtesy G-III Apparel
