PNC Bank served as administrative agent on a $400 million senior secured credit facility for American Eagle Outfitters. PNC Capital Markets served as joint lead arranger and joint bookrunner on the transaction.
The credit facility renews an existing facility and will be used to provide funds for general corporate purposes and working capital needs. Treasury management and foreign exchange products and services were also included in the transaction.
Established in 1977 and based in Pittsburgh, PA, American Eagle Outfitters is a global specialty retailer offering high-quality clothing, accessories and personal care products at affordable prices under its American Eagle and Aerie brands. The company operates more than 1,000 stores in the United States, Canada, Mexico, China and Hong Kong, and ships to 81 countries worldwide through its websites.