Talbots Finalizes Credit Facility

Hingham, Mass. The Talbots announced Friday that it has finalized the terms of the previously announced $50 million unsecured subordinated working capital term-loan credit facility with Aeon (U.S.A.), Inc., a wholly owned subsidiary of Aeon Co., Ltd., and the majority shareholder of The Talbots, Inc.

The new $50 million credit facility, which matures on January 28, 2012, supplements the company’s currently existing working capital lines of credit of $165 million and increases its total working-capital borrowing capacity to $215 million.