S&P assigns B to Tailored Brands loan

S&P said it assigned B issue-level and 3 recovery ratings (50%-70% recovery; rounded estimate: 65%) to Tailored Brands Inc.’s planned $550 million term loan due in 2029. Men’s Wearhouse LLC will borrow the loan.

The agency also affirmed Tailored Brands’ B issuer rating.

Tailored Brands will use the loan, draws from its asset-based lending facility and cash to buy back $750 million of its common shares.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.