Tory Burch Refinances Debt to Buy Out General Atlantic
Tory Burch is refinancing its existing loan facility and taking on new debt to potentially buy out its longtime investor General Atlantic. The company plans to take out a $700 million term loan and a $300 million revolving credit facility, with the goal of acquiring General Atlantic's stake for $346 million. Standard & Poor’s has affirmed the company’s BB-minus credit rating with a stable outlook.
Topics: buyout corporate finance debt refinancing General Atlantic ownership structure Tory Burch