Tailored Brands Expands, Extends ABL

Fremont, Calif.-based Tailored Brands Inc. — owner of brands such as Men’s Wearhouse, Jos. A. Bank, Joseph Abboud and K&G — reports it has amended its asset-based revolving credit facility (ABL) expanding availability by $50 million to $550 million and extending its maturity to October 2022. The ABL includes a $100 million expansion feature as well as an improved fee structure.

JPMorgan Chase Bank N.A. was the lead arranger and administrative agent for the syndicated credit facility, along with with joint lead arrangers and joint book runners Bank of America Merrill Lynch and Wells Fargo Capital Finance. “Our amended credit agreement provides Tailored Brands and additional $50 million of financial flexibility at a lower cost and better maturity profile,” said Jack Calandra, CFO, Tailored Brands.

November/December 2017