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BRIEF-J.Crew Group, Inc. announces approval of term loan amendment
June 16, 2017 / 8:06 PM / 5 months ago

BRIEF-J.Crew Group, Inc. announces approval of term loan amendment

June 16 (Reuters) - J.Crew Group, Inc:

* J.Crew Group, Inc. announces approval of term loan amendment

* Received consents to term loan amendment announced on June 12, 2017 from a majority of lenders under its term loan agreement

* Co has currently received consents from holders representing more than 80 pct of term loan

* Direction to be given by requisite lenders to Term Loan Agent to stay all litigation activities regarding co’s IP deals occurred in Dec 2016

* Term loan amendment was announced related to offer to exchange $566.5 million 7.75%/8.50% senior PIK Toggle Notes due 2019 issued by Chinos Intermediate

* Upon satisfaction of conditions, direction to require Term Loan Agent to withdraw and dismiss, with prejudice, all pending litigation Source text for Eikon:

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