Headlines

Some Cash in Levi's Pocket

Jeans and pants maker gets $1.5 billion in secured credit facilities

Published

23 years ago

December 28, 2000

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Banc of America Securities announced the launch of $1.5 billion senior secured credit facilities onbehalf of Levi Strauss & Co. (San Francisco), underwritten by Bank of America, Citicorp USA and The Bank of Nova Scotia. Completion of the agreement is expected to occur in late January.

The arrangement consists of a $750 million revolving credit facility and $750 million in term loan facilities. The purpose will be to refinance existing bank debt. Though Levi Strauss is still one of the world's leading branded apparel companies in more than 80 countries worldwide, it has experienced some business difficulties this year.

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