Lands’ End Inc. announced it has secured a new term loan of $275 million in order to extend debt duration and shore up its liquidity position. The loan proceeds, combined with borrowing under the company’s asset-based lending (ABL) facility, were used to refinance the company’s term loan, which was due in April 2021. Financing is now extended until 2025. Lands’ End had previously stated its long-term ability to survive hinged on being able to refinance this loan.
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