J.Jill, Inc. successfully completed the refinancing of its existing credit agreement with a new $75 million senior secured five-year term loan facility.
The refinancing provides enhanced financial flexibility and improved terms for the company.
The transaction is expected to result in annual cash interest expense savings of approximately $2.0 million.
Refinancing Details
New $75 million senior secured five-year term loan facility replaces the previous term loan credit agreement, providing enhanced financial flexibility.
Savings Estimate
The company expects annual cash interest expense savings of approximately $2.0 million after the refinancing.
Legal Advisor
Morgan, Lewis & Bockius LLP served as the legal advisor to J.Jill, Inc. for the refinancing transaction.
- The refinancing transaction demonstrates the company's commitment to maintaining a strong balance sheet and operational flexibility.
- Excluding the one-time impact of accelerated debt issuance costs, J.Jill anticipates significant annual cash interest expense savings of $2.0 million.
- The new financing agreement enhances the company's financial position and strategic capabilities.
The completion of the refinancing transaction signifies a positive step for J.Jill, Inc., enhancing its financial flexibility and demonstrating proactive financial management.