Oxford Industries Inc. (OXM) announced that it has completed its previously announced plan to amend and restate its $175 million U.S. asset-based revolving credit facility. The restated $235 million asset-based facility will mature in 2017.
In a separate press release, Oxford Industries announced that it will call for redemption all of its outstanding 11.375% Senior Secured Notes due 2015. There is currently $105 million aggregate principal amount of notes outstanding.
The redemption date is scheduled for July 16, 2012 at an aggregate price of $110.97 million. The company said it intends to fund the redemption with borrowings under its amended and restated $235.0 million asset-based revolving credit facility and cash on hand.
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