J. Crew Group, Inc. has lined up a new $180 million credit facility from Wachovia Bank, N.A. and Congress Financial Corp. This facility consists of a $160 million revolving credit and letter of credit agreement and a $20 million supplemental loan available on a seasonal basis.
The new three-year agreement replaces the cataloger’s existing $175 million secured facility with JP Morgan Chase that was due to expire on Oct. 17.
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