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BRIEF-True Religion reaches agreement with lenders
July 5, 2017 / 6:29 AM / 2 months ago

BRIEF-True Religion reaches agreement with lenders

July 5 (Reuters) -

* True Religion reaches agreement with lenders

* True Religion Brand Jeans says restructuring facilitated through voluntary pre-arranged chapter 11 filing will reduce debt by over 75% or $350 million

* True Religion Brand Jeans says Citizens Bank providing $60 million in DIP and exit financing to support operations

* True Religion Brand Jeans says trade creditors critical to business expected to be paid in full; company continues to operate business as usual

* True Religion Brand Jeans says filed separate motion to pay vendor claims arising prior to petition date & to pay for goods received within 20 days of bankruptcy filing Source text for Eikon:

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