PNC has provided a $400 million senior credit facility for Pittsburgh-based retailer American Eagle Outfitters Inc. The capital will be used for general corporate purposes and working capital.
PNC Bank, National Association, announced today the closing of a $400 million senior secured credit facility for American Eagle Outfitters, Inc. (NYSE: AEO). PNC Bank, N.A. served as administrative agent and PNC Capital Markets LLC served as joint lead arranger and joint bookrunner.
The credit facility renews an existing facility and will be used to provide funds for general corporate purposes and working capital needs of AEO. Treasury management and foreign exchange products and services were included in the transaction.
AEO is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle® and Aerie® brands. Established in 1977 and based in Pittsburgh, PA, the company operates more than 1,000 stores in the United States, Canada, Mexico, China and Hong Kong, and ships to 81 countries worldwide through its websites.
American Eagle and Aerie merchandise also is available at more than 200 international locations operated by licensees in 25 countries. For more information, please visit www.aeo-inc.com.
To learn more about financial services offered, visit PNC Business Credit.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.