Daily News: August 31, 2017

JPMorgan Agents $750MM Revolver for Carter’s


Children’s clothing manufacturer Carter’s increased its revolving credit facility from $500 million to $750 million.

According to a related 8-K filing, JPMorgan Chase was administrative agent for the transaction. Bank of America and Bank of Montreal were co-syndication agents. JPMorgan, Merrill Lynch and BMO Capital Markets were joint lead arranges and bookrunners.

Changes in the facility included:

  • Extending the term to August 25, 2022
  • Increasing the size of the U.S. dollar revolving credit facility to the aggregate amount of $650 million, including a $100 million sub-limit for letters of credit and a swing line sub-limit of $70 million
  • Increasing the size of the incremental facilities to an aggregate amount not to exceed $425 million, which includes $350 million with respect to the U.S. dollar revolving credit facility and $75 million with respect to the multi-currency revolving credit facility.