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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)
02/23/201716:52:27Diamcor Warrant Extension
02/22/201717:01:36Statement of Beneficial Ownership (sc 13d)
02/22/201716:27:34Amended Current Report Filing (8-k/a)
02/21/201707:00:24Current Report Filing (8-k)
02/21/201706:40:00Tiffany & Co. and JANA Partners Announce Appointments of Three...
02/17/201716:10:46Statement of Changes in Beneficial Ownership (4)
02/16/201718:35:00Tiffany Declares Regular Quarterly Dividend
02/10/201714:32:27Amended Statement of Ownership (sc 13g/a)
02/06/201706:31:42Current Report Filing (8-k)
02/05/201716:15:00Tiffany & Co. Announces Chief Executive Officer Transition
02/01/201710:59:24Statement of Changes in Beneficial Ownership (4)
01/27/201715:03:34Statement of Changes in Beneficial Ownership (4)
01/27/201706:07:18Amended Statement of Ownership (sc 13g/a)
01/25/201716:34:46Current Report Filing (8-k)
01/23/201715:21:17Statement of Changes in Beneficial Ownership (4)
01/23/201715:20:49Statement of Changes in Beneficial Ownership (4)
01/23/201715:20:22Statement of Changes in Beneficial Ownership (4)
01/23/201715:20:22Statement of Changes in Beneficial Ownership (4)
01/23/201715:19:55Statement of Changes in Beneficial Ownership (4)
01/23/201715:19:28Statement of Changes in Beneficial Ownership (4)

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