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BRIEF-Gymboree successfully completes financial restructuring
September 29, 2017 / 4:59 PM / 3 months ago

BRIEF-Gymboree successfully completes financial restructuring

Sept 29 (Reuters) - Gymboree Corp:

* Gymboree successfully completes financial restructuring

* Gymboree corp - company’s court-confirmed plan of reorganization went into effect today, September 29, 2017

* Gymboree corp - company has received an $85 million new term loan from Goldman Sachs

* Gymboree corp - Improved its financial position and established a capital structure by eliminating more than $900 million of debt​

* Gymboree corp - company has received access to a $200 million revolving credit facility from Bank of America Merrill Lynch and citizens

* Gymboree - Gymboree group’s pre-petition term loan lenders - including Searchlight, Apollo Global Management, among others are company’s new owners Source text for Eikon: Further company coverage:

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