Jones Apparel gets $1 billion bank credit

June 24, 2004 at 12:36 PM

NEW YORK, June 24 (UPI) -- Jones Apparel of New York said Thursday it obtained a $1 billion five-year revolving bank credit facility, extending to June 15, 2009.

The designer and marketer of branded apparel, footwear and accessories said Citigroup Global Markets and J.P. Morgan Securities were joint lead arrangers for the credit.

Others included Citibank and JPMorgan Chase Bank as syndication agents, Wachovia Bank, National Association as administrative agent, and Bank of America, SunTrust Bank and Barclays Bank as documentation agents.

Jones said the facility was broadly syndicated with a total of 26 banks and other financial institutions participating. It will primarily be used for working capital, letters of credit and other general corporate purposes.

Jones Apparel brands include Jones New York, Evan- Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon and LeSuit.

Related UPI Stories
Latest Headlines
Trending Stories
Chelsea Clinton accidentally calls Bernie 'President Sanders'
Watch every star-studded Super Bowl commercial of 2016
Susan Sarandon responds to Piers Morgan criticizing cleavage
Two Virginia Tech students plotted 13-year-old's death, prosecutors said
Colin Powell, Condoleezza Rice got classified email on private accounts