Sycamore Ups Aeropostale Stake For $150M In Loans

Law360, New York (March 14, 2014, 12:57 PM EDT) -- Aeropostale Inc. will give Sycamore Partners a larger stake in the teen-focused retailer in exchange for $150 million in loans and a strategic partnership with the private equity firm's merchandise sourcing company, the mall mainstay said Thursday following another disappointing quarter.

Under the terms of the deal, Aeropostale will have access to a five-year $100 million term loan facility and a 10-year $50 million term loan facility that includes a merchandise sourcing arrangement with MGF Sourcing, which Sycamore Partners holds a controlling interest in, according to...
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