TD Arranges Brooks Brothers $250MM Facility
TD Bank announced its ABL group was recently selected by Brooks Brothers as joint lead arranger in a $250 million facility. The amount of TD’s commitment and terms of the financing were not disclosed.
Founded in 1818, Brooks Brothers is the country’s oldest clothing retailer and one of the premier luxury retailers in today’s market. The company specializes in high-end menswear, womenswear, children’s apparel and home decor. Brooks Brothers is headquartered in New York City with retail stores nationwide and in select global markets.
Jeffery Wacker, head of ABL new business development at TD Bank, commented, “The retail sector is a core focus of our ABL business at TD Bank, and we believe this financing is indicative of the creativity and industry experience of our team. We look forward to working with Brooks Brothers as their financial partner.”
“Brooks Brothers is thrilled to have TD Bank as a lead Agent in our new credit facility,” said Steven Goldaper, CFO, Brooks Brothers. “The retail finance team at TD Bank truly understands retail and more importantly, our business, allowing for the seamless closing of our new revolver credit facility.”
Stephen Metivier, head of ABL retail finance at TD Bank, commented, “Brooks Brothers is an American icon and a leader in the luxury retail industry. Our team is committed to working with retailers in order to provide financing to support their continued growth and success.”