8-K
filed April 5, 2023, 7:59 PM ET
ticker JILL
CIK 0001687932
debt
confidence high
sentiment positive
materiality 0.65
J.Jill, Inc. (JILL): debt financing — J.Jill completes $175M refinancing, extends debt maturity to 2028
J.Jill, Inc.
- New $175M term loan facility with Jefferies Finance, matures May 8, 2028.
- Proceeds used to repay ~$222M of existing debt due 2024.
- Interest rate: SOFR+8% or Base+7%.
- No material change to interest expense in FY2023 excluding one-time costs.
- Company expects financial flexibility to drive shareholder return.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
J.Jill, Inc. incurred term loan of $175,000,000 with Jefferies Finance LLC at Base Rate plus 7.00% or Adjusted Term SOFR plus 8.00% maturing May 8, 2028.
- Instrument
- term loan
- Principal
- $175,000,000
- Counterparty
- Jefferies Finance LLC
- Rate
- Base Rate plus 7.00% or Adjusted Term SOFR plus 8.00%
- Maturity
- May 8, 2028
- Event
- incurrence
Exact text from the filing
LLC (“Jefferies Finance”), as administrative agent and as collateral agent. The Credit Agreement provides for a secured term loan facility in an aggregate principal amount of $175,000,000 with a maturity date of May 8, 2028. The proceeds of the Credit Agreement were used in part to pay off (1) that certain Priming Term Loan Credit Agreement (the “Priming Credit
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
J.Jill, Inc. terminated Subordinated Credit Agreement with Wilmington Trust, National Association (effective 2023-04-05).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Wilmington Trust, National Association
- Effective
- 2023-04-05
Exact text from the filing
(2) that certain Subordinated Term Loan Credit Agreement (the “Subordinated Credit Agreement”), by and among the Company, the Borrower, the subordinated lenders party thereto and Wilmington Trust, National Association, as administrative agent and as collateral agent.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
J.Jill, Inc. entered into Credit Agreement with Jefferies Finance LLC valued at $175,000,000 (effective 2023-04-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Jefferies Finance LLC
- Value
- $175,000,000
- Effective
- 2023-04-05
Exact text from the filing
J.Jill, Inc. (the “Company”) and Jill Acquisition LLC (the “Borrower”) entered into that certain Term Loan Credit Agreement (the “Credit Agreement”), by and among the lenders party thereto from time to time and Jefferies Finance LLC (“Jefferies Finance”), as administrative agent and as collateral agent. The Credit Agreement provides for a secured term loan facility in an aggregate principal amount of $175,000,000
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
J.Jill, Inc. terminated Priming Credit Agreement with Wilmington Trust, National Association (effective 2023-04-05).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Wilmington Trust, National Association
- Effective
- 2023-04-05
Exact text from the filing
The proceeds of the Credit Agreement were used in part to pay off (1) that certain Priming Term Loan Credit Agreement (the “Priming Credit Agreement”), by and among the Company, the Borrower, the priming lenders party thereto from time to time and Wilmington Trust, National Association, as administrative agent and as collateral agent
View on SEC.gov
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