ANN Inc. in Completion of $250 Million Credit Facility

December 20, 2012

Cleary Gottlieb represented ANN Inc. and certain of its wholly-owned subsidiaries in connection with a $250,000,000 senior secured asset-based revolving credit facility. The facility, which will be used for general corporate purposes and working capital needs, includes a $150,000,000 accordion feature and a $75,000,000 sub-facility for loans and letters of credit to be provided in Canadian Dollars to ANN Canada. Bank of America serves as administrative agent and collateral agent, JPMorgan Chase Bank acted as syndication agent, and Bank of America Merrill Lynch and J.P. Morgan Securities LLC acted as joint lead arrangers and book runners.

ANN INC. is a leading specialty in-store and online retailer of fashionable women’s clothing which has 962 stores across 46 states and Puerto Rico. The transaction closed on December 20.