Abercrombie & Fitch to issue $300 million of bonds to raise the funds to repay existing debt

Teen apparel retailer Abercrombie & Fitch Co.
ANF,
+0.77%
said Wednesday it is planning to offer up to $300 million of senior secured notes that mature in 2025. Proceeds will be used to repay an existing senior secured term loan facility, to repay part of the outstanding borrowings under its Amended ABL Facility to to pay fees. Shares were not yet active premarket, but have fallen 29% in the year to date, while the S&P 500
SPX,
+0.28%
has fallen 3%.

View more information: https://www.marketwatch.com/story/abercrombie-fitch-to-issue-300-million-of-bonds-to-raise-the-funds-to-repay-existing-debt-2020-06-17

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