Blackstone- and Bain-backed Michaels’ draws $120m from revolving loan
The arts and crafts big-box chain has drawn an aggregate of $120m from its senior secured asset-based credit facility to ‘meet its cash needs while there are disruptions in the debt markets’. Bain and Blackstone bought the US retailer in 2006 in a $6bn deal.
12 January 2013•2 mins read
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