The Firm represented G-III Apparel Group, Ltd. (“G-III”) in connection with a Rule 144A/Regulation S offering of $400 million aggregate principal amount of 7.875% senior secured notes due 2025 (the “Notes”). G-III used the net proceeds from the offering of the Notes to repay its term loan facility and for related fees and expenses and intends to use the remaining amount general corporate purposes.
Concurrently with the closing of the Notes offering, G-III refinanced, amended and restated its existing ABL facility. The amended ABL facility provides for borrowings in the aggregate principal amount of up to $650 million and extends the maturity date to August 2025.
G-III designs, sources and markets apparel and accessories under owned, licensed and private label brands. G-III’s owned brands include DKNY, Donna Karan, Vilebrequin, G. H. Bass, Eliza J, Jessica Howard, Andrew Marc and Marc New York. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld Paris, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Levi's and Dockers brands.
The Simpson Thacher team for the transaction included Richard Fenyes, Matthew Levy, Crystal Oparaeke and Frances Fuqua (Capital Markets); Brian Steinhardt, Dennis Durkin and Callie Robins (Banking and Credit); Jonathan Pall (Collateral); Timothy Mulvihill (Environmental); Jennifer Neilsson (Executive Compensation and Employee Benefits); Lori Lesser, Genevieve Dorment, Loren Shokes and Kate Mirino (Intellectual Property); Timothy Gallagher (Real Estate); and Sophie Staples and Abigail Hopper (Tax).