FREMONT, Calif., Oct. 26, 2017 /PRNewswire/ -- Tailored
Brands, Inc. (NYSE: TLRD) today announced that it has amended its
asset-based revolving credit facility ( the "ABL"), expanding
availability to $550 million from
$500 million and extending its
maturity to October 2022 from
June 2019.
Tailored Brands Chief Financial Officer Jack Calandra said, "Our amended credit
agreement provides Tailored Brands an additional $50 million of financial flexibility at a lower
cost and better maturity profile."
The ABL includes a $100 million
expansion feature and has an improved fee structure. The ABL
matures October 2022, subject to a
springing maturity provision relative to the Company's other
outstanding debt.
JPMorgan Chase Bank, N.A. was the lead arranger and
administrative agent, with Bank of America Merrill Lynch and Wells
Fargo Capital Finance as joint lead arrangers and joint book
runners for the syndicated credit facility.
About Tailored Brands
Tailored Brands, Inc. is a leading authority on helping men
dress for work, special occasions and everyday life. We serve
our customers through an expansive omni-channel network that
includes over 1,400 locations in the U.S. and Canada as well as our branded e-commerce
websites. Our brands include Men's Wearhouse, Jos. A. Bank,
Joseph Abboud, Moores Clothing for
Men and K&G. We also operate an international corporate
apparel and workwear group consisting of Dimensions, Alexandra and
Yaffy in the United Kingdom and
Twin Hill in the United States.
For additional information on Tailored Brands, please visit the
Company's websites at www.tailoredbrands.com,
www.menswearhouse.com, www.josbank.com, www.josephabboud.com,
www.mooresclothing.com, www.kgstores.com, www.mwcleaners.com,
www.dimensions.co.uk, www.alexandra.co.uk. and
www.twinhill.com.
This press release contains forward-looking information,
including the Company's statements regarding its financial
flexibility. In addition, words such as "expects," "anticipates,"
"envisions," "targets," "goals," "projects," "intends," "plans,"
"believes," "seeks," "estimates," "guidance," "may," "projections,"
and "business outlook," variations of such words and similar
expressions are intended to identify such forward-looking
statements. The forward-looking statements are made pursuant
to the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995. Any forward-looking statements that we
make herein are not guarantees of future performance and actual
results may differ materially from those in such forward-looking
statements as a result of various factors. Factors that might
cause or contribute to such differences include, but are not
limited to: actions by governmental entities; domestic and
international macro-economic conditions; inflation or deflation;
the loss of, or changes in, key personnel; success, or lack
thereof, in executing our internal strategies and operating plans
including new store and new market expansion plans; cost reduction
initiatives, store rationalization plans, profit improvement plans,
revenue enhancement strategies; the impact of the termination of
our tuxedo rental license agreement with Macy's; changes in demand
for clothing or rental product; market trends in the retail
business; customer confidence and spending patterns; changes in
traffic trends in our stores; customer acceptance of our
merchandise strategies; performance issues with key suppliers;
disruptions in our supply chain; severe weather; foreign currency
fluctuations; government export and import policies; advertising or
marketing activities of competitors; and legal proceedings.
Forward-looking statements are intended to convey the
Company's expectations about the future, and speak only as of the
date they are made. We undertake no obligation to publicly
update or revise any forward-looking statements that may be made
from time to time, whether as a result of new information, future
developments or otherwise, except as required by applicable
law. However, any further disclosures made on related
subjects in our subsequent reports on Forms 10-K, 10-Q and 8-K
should be consulted. This discussion is provided as permitted by
the Private Securities Litigation Reform Act of 1995, and all
written or oral forward-looking statements that are made by or
attributable to us are expressly qualified in their entirety by the
cautionary statements contained or referenced in this
section.
Contact:
Investor Relations
(281) 776-7575
ir@tailoredbrands.com
Julie MacMedan, VP, Investor
Relations
Tailored Brands, Inc.
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SOURCE Tailored Brands, Inc.