Perry Ellis International expanded its credit facility from $125 to $200 million, redeeming $100 million of its 7.875% senior subordinated notes, reducing interest costs by approximately $4.5 million during the year.

According to a 10-K SEC filing, Wells Fargo served as agent for the lenders, and Bank of America was syndication agent for the transaction.

Oscar Feldenkreis, president and CFO commented, “During the quarter and throughout the year we focused on our strategic plan to support and advance our core global brands, to expand gross margin and to generate cost efficiencies. I firmly believe that our focus on building our core brands, discipline and agility along with our powerful brands and proven growth initiatives will enable Perry Ellis International to deliver continued long-term profitable growth and value creation for our shareholders.”