Case Summary: Bon-Ton

Bon-Ton

$150 million ABL Term Loan Documentation Agent

Overview

The Bon-Ton Stores, Inc. operates 267 stores throughout the Northeast, Midwest and upper Great Plains under the nameplates of Bon-Ton, Bergner’s, Boston Stores, Carson’s, Elder-Beerman, Herberger’s and Younkers. They offer a broad assortment of branded and private label apparel and accessories for women, men and children.

Situation Overview

The Company had a $100.0MM tranche of their existing Credit Facility in addition to $57.0MM of Senior Notes with upcoming maturities in 2018 and 2017 respectively. They were seeking a solution that would refinance both facilities with an extended maturity and create incremental liquidity.

Solution

Crystal was Documentation Agent in a $150.0MM ABL Term Loan supported by a 2nd lien position on the Company’s current assets as well as real estate.