Credit Suisse is prepping a $450 million term loan for retailer Lord & Taylor, according to a person familiar with the transaction.

Proceeds will be used to help refinance $820 million of CMBS, this person said.

Additionally, Lord & Taylor will also raise $300 million through an asset based revolver that is being arranged by GE Capital.

The department store operator's parent company, Canadian retailer Hudson’s Bay Co., will also contribute equity to pay off the CMBS.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.