WFCF Agents Lands’ End $175MM ABL Refi

Correction: Wells Fargo Capital Finance agented Lands’ End’s new $175 million ABL revolving credit facility, which matures in November 2022,

Update: BofA Retained to Arrange Lands’ End ABL Facilities

In a news release, Sears Holdings said it completed its separation of the Lands’ End business and received a $500 million dividend. Lands’ End also entered into a $175 million ABL and a $515 million term loan and indicated in a related 10-K filing that Bank of America was retained to assist in arranging a syndicate of institutional lenders to provide the facilities.

Lands’ End to Seek ABL Subsequent to Sears Spin-Off

Sears Holdings announced its board approved the separation of its Lands’ End business. The company noted that Lands’ End will pursue a $690 million ABL facility that will be used to pay a dividend to a Sears Holdings subsidiary.