Key Developments: Belk Inc (BLKIA.PK)

BLKIA.PK on OTC Markets Group

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2 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Belk Inc enters into fourth amended and restated credit agreement - Form 8-K
Tuesday, 28 Oct 2014 05:20pm EDT 

Belk Inc:Says on Oct. 22, company and its subsidiaries entered into a fourth amended and restated credit agreement under which the company may borrow up to $500 mln if certain conditions are satisfied.New Facility recast its existing $350 mln senior unsecured revolving line of credit, dated Nov. 22, 2010.Increasing the size by $150 mln to $500 mln.Extending the maturity date from Nov. 23, 2015 to Oct. 22, 2019.Reducing the per annum variable interest rate spread and other fees.Providing for the expansion of the New Facility by an additional $200 mln for a total available of $700 mln, subject to receipt of additional commitments from lenders and other customary conditions.New Facility is co-led by Wells Fargo Bank, National Association, Bank of America, N.A. and Branch Banking and Trust Company. Seven additional lending institutions are also parties thereto.  Full Article

Exclusive: Sycamore Partners in bid to buy Belk for more than $3 billion - sources

- Sycamore Partners is preparing an offer for Belk Inc that could value the U.S. department store chain at between $3 billion and $3.5 billion, including debt, and become the buyout firm's largest deal, people familiar with the matter said on Thursday.

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