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Tiffany Replaces $400 Million Revolving Credit Line With 2 New Pacts

DOW JONES NEWSWIRES Tiffany & Co. (TIF) obtained two new lines of credit to replace its existing $400 million revolving credit facility. The luxury jewelry retailer signed a $200 million, three-year revolving bank credit agreement and a $200 million, five-year revolving bank credit agreement with Bank of New York Mellon Corp., the administrative agent; co-syndication agents ABN AMRO Bank N.V. and Standard Chartered Bank; and co-documentation agents J.P. Morgan Chase Bank N.A. and Mizuho Corporate Bank. Participating lenders also include Bank of America Corp. (BAC), HSBC Bank USA NA, U.S. Bank National Association, and Wells Fargo Bank NA, the regulatory filing said. Each credit facility may be increased up to $275 million. Tiffany plans to use the new credit agreements for working capital and other corporate purposes. The company has posted double-digit sales and profit growth of late as it expands into international markets and benefits from more discretionary spending by upper-end consumers. Last month, it reported a 63% jump in fiscal third-quarter earnings as every geographic segment saw double-digit sales growth, including a 17% increase in the Americas, which accounted for the bulk of its 21% revenue growth. -By Melodie Warner, Dow Jones Newswires; 212-416-2283;

Stock News for Tiffany (TIF)
02/08/201615:22:45Amended Statement of Ownership (sc 13g/a)
02/05/201612:48:08Amended Statement of Ownership (sc 13g/a)
02/01/201613:38:29Statement of Ownership (sc 13g)
01/21/201618:50:00Tiffany Authorizes More Share Buybacks
01/21/201617:18:44Current Report Filing (8-k)
01/21/201616:01:00Tiffany Announces New Stock Repurchase Program: Board Authorizes...
01/19/201608:50:00Tiffany Cuts Guidance, Staff on Soft Holiday Sales
01/19/201606:44:33Current Report Filing (8-k)
01/19/201606:40:00Tiffany Reports Holiday Period Sales Results
01/07/201617:30:09Statement of Changes in Beneficial Ownership (4)
12/23/201516:15:18Statement of Changes in Beneficial Ownership (4)
12/21/201516:39:06Statement of Changes in Beneficial Ownership (4)
11/24/201509:48:00U.S. Hot Stocks: Hot Stocks to Watch
11/24/201508:50:00Signet Jewelers Misses Expectations on Sales Shift
11/24/201508:20:00Tiffany Cuts Outlook, Misses Third-Quarter Expectations
11/24/201506:50:58Quarterly Report (10-q)
11/24/201506:46:21Current Report Filing (8-k)
11/24/201506:40:00Tiffany Reports Third Quarter Results; Management Revises Earnings...
11/19/201512:34:00Tiffany Declares Regular Quarterly Dividend
11/09/201521:00:00Mining Executive Out Over Split With Steinmetz

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