Daily News: May 28, 2014

Sycamore Partners Closes Aeropostale $150MM Facility

Aeropostale announced that it has closed $150 million in senior secured credit facilities with Sycamore Partners.

The senior secured credit facilities with affiliates of Sycamore Partners consist of a five-year, $100 million term loan facility and a ten-year, $50 million term loan facility that includes a sourcing arrangement with MGF Sourcing, also an affiliate of Sycamore Partners.

Additionally, through the new strategic sourcing partnership with MGF Sourcing, Aeropostale has committed to complete minimum merchandise purchases each year for ten years

Aeropostale is a primarily mall-based, specialty retailer of casual apparel and accessories, principally targeting teenagers.