Ascena Retail Group, Inc.’s Amended and Restated Asset‑Backed Credit Facility
October 21, 2015
Cravath represented JPMorgan Chase Bank, N.A. as arranger of a $600 million amended and restated asset‑backed credit facility for Ascena Retail Group, Inc. in connection with its acquisition of Ann Inc., the operator of the Ann Taylor women’s clothing stores. The facility was secured by a first lien on accounts receivable and inventory and a second lien on other assets securing a term facility provided by a separate lending group. The transaction closed on August 21, 2015.
The Cravath team included partner James D. Cooper, senior attorneys Kimberly A. Grousset and Margot A. Wagner, practice area attorneys Brian O. Larkin and Jin Hee Kim and associates Jessie Chiang and Trevor C. Lynch on banking matters; associates Dmitry Zelik and Peter W. Rogers on tax matters; and associate Aaron J. Feuer on executive compensation and benefits matters.
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J.D., 1979, Yale Law School
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A.B., 1976, University of ChicagoPhi Beta Kappa, summa cum laude
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