Teen clothing retailer Pacific Sunwear of California Inc. on Thursday said it secured a five-year, $200 million credit line with several banks.
The revolving credit line replaces PacSun’s $50 million credit line from one bank that was set to expire in 2007. The company can borrow up to $275 million under the new pact.
PacSun didn’t expand on how it plans to tap the credit except to say it could be used for direct borrowings and the issuance of letters of credit.
The company operates about 1,000 stores, most under the PacSun surfwear chain.
