Home / Knowledge / News / Apparel/Garments / Neiman Marcus announces refinancing plan
Neiman Marcus announces refinancing plan
Apr '11
The Neiman Marcus Group Inc announced that it intends to refinance a portion of its existing indebtedness. The purpose of the planned refinancing is to lower Neiman Marcus' interest expense going forward by taking advantage of current market conditions. The Company intends to complete the planned refinancing only if that purpose can be achieved.

Neiman Marcus intends to amend and restate its existing senior secured term loan facility, increasing the principal amount of that facility to $2,060.0 million (from its current amount of $1,505.7 million). The proceeds of the incremental borrowings under the term loan facility, along with cash on hand, will be used to repurchase or redeem the Company's $752.4 million principal amount outstanding of 9%/9¾% Senior Notes due 2015. The Company also intends to increase the size of its existing senior secured revolving credit facility from $600.0 million to $700.0 million. The terms of the contemplated transactions are not yet final.

The Company intends to hold a bank meeting with lenders on April 25, 2011 in New York to discuss the proposed amendments to its credit facilities.

Neiman Marcus, Inc. is the parent of The Neiman Marcus Group, Inc. Neiman Marcus, Inc. operations include the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus, Last Call and Bergdorf Goodman stores.

Neiman Marcus Group Inc

Must ReadView All

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Textiles | On 24th Oct 2016

German technology to help in energy saving in textiles

German technology can play a major role making the environment...

Courtesy: Trupik

Apparel/Garments | On 24th Oct 2016

Virtual 3D fitting rooms revolutionising online shopping

Virtual fitting rooms meant to bridge the gap between e-commerce...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search