Simpson Thacher is representing JPMorgan Chase Bank, N.A., as administrative agent, and J.P. Morgan Securities LLC, as lead arranger and bookrunner, in connection with the committed financing for the acquisition of Zale Corporation by Signet Jewelers Limited. The financing is expected to consist of a combination of bank debt, other debt financing and the securitization of a significant portion of Signet's accounts receivable portfolio.
Signet Jewelers Limited is the largest specialty jewelry retailer in the US, where it operates over 1,400 stores in all 50 states primarily under the name brands of Kay Jewelers and Jared The Galleria Of Jewelry, and in the UK, where it operates approximately 500 stores primarily under the name brands of H.Samuel and Ernest Jones. Zale Corporation is a leading specialty retailer of diamond and other jewelry products in North America, operating approximately 1,680 retail locations throughout the United States, Canada and Puerto Rico, as well as online, under brands including Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.
The Simpson Thacher team includes Patrick Ryan, Jessica Tuchinsky and William Allen (Credit); Art Robinson, Hui Lin and Chinh Vo (Capital Markets); Laura Palma (Structured Finance); Ed Chung (M&A); Sophie Staples (Tax); Alina Finkelshteyn (ECEB); Mardi Merijan (Real Estate); Samantha Himelman (IP); and Michael Isby (Environmental).