NEW YORK J. Crew Group Inc. disclosed terms on Tuesday of a debt restructuring deal that would roughly cut in half the value of its nearly $567 million in bonds, as well as extend their maturity by two years, after receiving the backing of some key creditors.
The move comes after Reuters reported last month that two investment firms, Blackstone Group LP’s GSO Capital Partners LP and Anchorage Capital Group LLC, were snapping up J. Crew’s debt to facilitate such a deal.
The U.S. fashion retailer, facing a total debt load of $2.1 billion, asked creditors to agree to an out-of…
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