Virtus Investment Partners completed the refinancing of its existing credit agreement with a $275 million term loan and $175 million revolving credit facility. Morgan Stanley arranged the term loan as the lead arranger and bookrunner and the credit facility as lead arranger and administrative agent.
Tupperware Brands prepaid $58 million of its term loan debt from Angelo Gordon and JP Morgan. In addition, its board of directors authorized share repurchases of up to $250 million of the company’s outstanding shares of common stock.
Land’s End secured a $275 million term loan with a lending group consisting of affiliates of Fortress Investment Group, STORY3 Credit Partners and Blue Torch Capital. In addition, maximum availability under Land’s End’s ABL facility was expanded to $275 million.
Bank of America is serving as the administrative agent and lead arranger of a new $3.15 billion asset-based credit agreement for Macy’s. The agreement is part of $4.5 billion in new financing for Macy’s.
JP Morgan is serving as administrative agent on a $350 million senior credit facility in connection with the merger of Eros International and STX Entertainment.
Bank of America, JP Morgan and Truist completed an amendment to Sally Beauty’s existing secured asset-based revolving line of credit, increasing the borrowing capacity by $120 million to $620 million.
The Meet Group closed a new $60 million credit facility consisting of a $35 million term loan which was fully drawn at closing and a $25 million revolving line of credit for general corporate purposes.
Kraton Corporation amended its existing senior secured term loan facility. JP Morgan, Deutsche Bank and Credit Suisse acted as joint lead arrangers and joint bookrunners on the transaction.
Reuters reported Bank of America Merrill Lynch and JP Morgan are leading a €1.5 billion-equivalent ($1.77 billion) leveraged loan financing for Belron, a UK vehicle glass repair and replacement group.