American Apparel, Inc. (APP: Quote) announced the pricing of $206 million of its 13.0% Senior Secured Notes due 2020, which will be issued at 97% of par. The company expects the closing of the offering to take place on or about April 4, 2013.
The Los Angeles, California-based company intends to use this offering net proceeds, together with borrowings under a new asset-backed revolving credit facility, to repay in full and terminate its credit facilities with Lion Capital, LLC and Crystal Financial LLC and, to the extent any proceeds are remaining, for general corporate purposes.
by RTT Staff Writer
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