Zale Extends Maturity on Portion of Bank Credit Facility, $120M (ZLC)

Zale Corporation ZLC today announced that it has extended the maturity of $120 million, including seasonal adjustment of $20 million, of its asset-backed credit facility to April 30, 2014. It previously was scheduled to mature on August 11, 2011. In the aggregate, commitments under the Company's bank facility remain unchanged at $650 million, including a $108 million seasonal adjustment. All commitments under the facility, including the extension announced today, mature on April 30, 2014 and are priced at LIBOR plus an applicable percentage.