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Brief: Perry Ellis HQ Refinancing

Perry Ellis International Inc. said Monday it completed the refinancing of its Miami headquarters.

Perry Ellis International Inc. said Monday it completed the refinancing of its Miami headquarters, as well as secured a fixed interest rate reduction on the mortgage of a distribution facility in Tampa. The company said the $13 million mortgage on the headquarters resulted in additional gross proceeds of $2.1 million. The mortgage is for 10 years with a fixed interest rate of 5.8 percent and a maturity date of August 2020. The previous rate was 7.1 percent. The Tampa facility has a fixed rate of 5.75 percent, down from the previous rate of 6.25 percent. The loan matures in June 2016. The firm said the reductions will save it $215,000 in annual interest payments.

This story first appeared in the August 3, 2010 issue of WWD.  Subscribe Today.