|Bid||10.64 x 4000|
|Ask||11.18 x 1400|
|Day's Range||9.70 - 10.77|
|52 Week Range||2.96 - 34.42|
|Beta (5Y Monthly)||2.44|
|PE Ratio (TTM)||5.58|
|Earnings Date||Sep 03, 2020 - Sep 07, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.18|
G-III Apparel Group, Ltd. (the "Company") (Nasdaq GS: GIII) today announced that it has priced $400 million aggregate principal amount of 7.875% Senior Secured Notes Due 2025 (the "Notes"). The Notes will be senior secured obligations of, and will be guaranteed on a senior secured basis by, each of the Company’s subsidiaries that are guarantors under its senior secured credit facilities. The Notes offering (the "Offering") is expected to close on August 7, 2020, subject to customary closing conditions.
Moody's Investors Service, ("Moody's") today assigned a Ba3 rating to G-III Apparel Group, Ltd.'s ("G-III") proposed senior secured notes offering. Moody's also affirmed all existing ratings including its Ba3 corporate family rating (CFR), Ba3-PD probability of default rating (PDR), and Ba3 on the senior secured term loan. Upon completion of the re-financing, the Ba3 rating on the senior secured term loan will be withdrawn.
G-III Apparel Group Ltd. said Tuesday is planning to offer $350 million in senior secured notes that mature in 2025. The owner of brands, including DKNY and Donna Karan has licensing agreements with Calvin Klein and Tommy Hilfiger, among others, and said it will use the proceeds to repay a term loan that matures in 2022 and for general corporate purposes. The company joins the many issuing record levels of debt to bolster liquidity during the pandemic.