Simpson Thacher recently represented Tailored Brands, Inc. (“Tailored Brands”) and its wholly-owned subsidiary The Men’s Wearhouse, LLC (“TMW”), in connection with their $1.1 billion senior secured financing, including (i) a debut high-yield offering of $450,000,000 aggregate principal amount of TMW’s 9.00% Senior Secured Notes due 2031 and (ii) borrowings by TMW under a new term loan credit facility in an aggregate principal amount of $650,000,000.
Tailored Brands used the net proceeds from the senior secured financing, together with cash on hand, to repay amounts outstanding under its existing term loan facility in full and return capital to its equityholders.
Tailored Brands is a leading omnichannel specialty retailer of menswear in the U.S. and Canada, comprised of four iconic banners: Men’s Wearhouse, Jos. A. Bank, Moores and K&G. Tailored Brands helps people love the way they look and feel for their most important moments through a tailored and one-of-a-kind shopping experience. Tailored Brands delivers personalized products and services through a convenient network of stores and e-commerce sites.
The Simpson Thacher team for the transaction included Roxane Reardon, Patrick Baron, Matt Hart, Tina Tang and Anna Cho (Capital Markets); Christopher Brown, Shawn Dogra, Jackie Song, Janhvi Barthwal and Jim Wheeler (Credit); Jonathan Cantor, Michael Mann and Ruoxi Zhang (Tax); Jonathan Pall (Collateral); Ryan Stott (ECEB); Courtney Welshimer and Paige Brinton (Intellectual Property); Timothy Gallagher (Real Estate); and Erica Rozow and George Gerstein (ERISA).