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G-III Apparel Group, Ltd. Announces Offering of $350 Million of Senior Secured Notes Due 2025
NEW YORK--(BUSINESS WIRE)-- G-III Apparel Group, Ltd. (the “Company”) (Nasdaq GS: GIII) today announced that it intends to offer $350 million aggregate
About this update from G-iii Apparel Group, Ltd.
[{"type":"text","content":"\n \n\n NEW YORK--(BUSINESS WIRE)--\nG-III Apparel Group, Ltd. (the “Company”) (Nasdaq GS: GIII) today announced that it intends to offer $350 million aggregate principal amount of Senior Secured Notes Due 2025 (the “Notes”), subject to market and other conditions (the “Offering”).\n\n\nThe Company intends to use the net proceeds of the Offering (i) to repay its existing term loan facility due 2022, (ii) for general corporate purposes and (iii) to pay related fees and expenses.\n\n\nThe Notes will be offered in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.\n\n\nThis press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.\n\n\nAbout G-III Apparel Group, Ltd.\n\n\nG-III designs, sources and markets apparel and accessories under owned, licensed and private label brands. G-III’s owned brands include DKNY, Donna Karan, Vilebrequin, G. H. Bass, Eliza J, Jessica Howard, Andrew Marc and Marc New York. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld Paris, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Levi's and Dockers brands. Through its team sports business, G-III has licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League and over 150 U.S. colleges and universities. Through its retail subsidiaries, G-III also operates retail stores under the DKNY, Wilsons Leather, G. H. Bass, Vilebrequin, Karl Lagerfeld Paris and Calvin Klein Performance names. Subsequent to completion of the restructuring of its retail operations segment, G-III will, through two of its wholly-owned subsidiaries, con...