Monday, February 1, 2010

Hong Kong:Fashion retailer Esprit secures bank loans to buy China ops


Esprit Holdings Limited has mandated 13 banks to be the Coordinating Arrangers for arranging a 5-year Term Loan Facility.

The borrower received a total commitment of HK$6,500 Million, which represents a 250% oversubscription from the original amount of HK$2,600 Million.

The proceeds of the Facility will be used to finance the acquisition of the Group’s remaining interest in the China joint venture.

Esprit is an international youthful lifestyle brand offering smart, affordable luxury and bringing newness and style to life. The Group operates more than 800 directly managed retail stores worldwide and distributes its products via more than 14,000 wholesale locations internationally, occupying total selling space of over 1.1 million square metres in more than 40 countries.

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