J.Jill completes refinancing with new 75 million dollars term loan

J.Jill, Inc. has announced the successful completion of a refinancing agreement, replacing its existing credit facility with a new 75 million dollars senior secured five-year term loan facility.

The facility, provided by an affiliate of Manulife | Comvest Credit Partners, CCP Agency, LLC, as administrative agent and sole lead arranger, replaces the company's previous term loan credit agreement dated April 5, 2023.

Mark Webb, chief financial and operating officer of J.Jill, stated that the refinancing demonstrates the company's commitment to maintaining a strong balance sheet while preserving operational and strategic flexibility.

Excluding the one-time impact of accelerated debt issuance costs, J.Jill expects this transaction to generate annual cash interest expense savings of approximately 2 million dollars, providing improved financial terms for the women's apparel retailer.