FREMONT, Calif.–(BUSINESS WIRE)–
Tailored Brands, Inc. (NYSE: TLRD) today announced that it has
successfully repriced its $896 million senior secured term loan.

Tailored Brands Chief Financial Officer Jack Calandra said, “The
repricing of our term loan reflects our improved credit profile and will
reduce our annual cash interest expense by more than $2 million. We are
pleased to have completed this transaction and will continue to evaluate
opportunities to further improve our capital structure.”

The repricing was completed at par and reduces the interest rate
applicable to the Company’s term loan by 25 basis points from LIBOR plus
350 basis points (with a LIBOR floor of 1.0%), to LIBOR plus 325 basis
points (with a LIBOR floor of 1.0%). The maturity date of the term loan,
April 9, 2025, and all other material provisions remain unchanged.

J.P. Morgan was the lead arranger and administrative agent, with Bank of
America Merrill Lynch and Wells Fargo Capital Finance as joint lead
arrangers and joint book runners for the repricing.

About Tailored Brands, Inc.

As the leading specialty retailer of men’s tailored clothing and largest
men’s formalwear provider in the U.S. and Canada, Tailored Brands helps
men love the way they look for work and special occasions. We serve our
customers through an expansive omni-channel network that includes over
1,400 stores in the U.S. and Canada as well as our branded e-commerce
websites. Our brands include Men’s Wearhouse, Jos. A. Bank, Joseph
Abboud, Moores Clothing for Men and K&G. We also operate an
international corporate apparel and workwear group consisting of
Dimensions, Alexandra and Yaffy in the United Kingdom and Twin Hill in
the United States.

For additional information on Tailored Brands, please visit the
Company’s websites at www.tailoredbrands.com,
www.menswearhouse.com,
www.josbank.com,
www.josephabboud.com,
www.mooresclothing.com,
www.kgstores.com,
www.dimensions.co.uk,
www.alexandra.co.uk
and www.twinhill.com.

This press release contains forward-looking information, including
the Company’s statements regarding reductions in annual cash interest
expense. In addition, words such as “expects,” “anticipates,”
“envisions,” “targets,” “goals,” “projects,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” “guidance,” “may,” “projections,” and
“business outlook,” variations of such words and similar expressions are
intended to identify such forward-looking statements.
The
forward-looking statements are made pursuant to the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Any
forward-looking statements that we make herein are not guarantees of
future performance and actual results may differ materially from those
in such forward-looking statements as a result of various factors.
Factors
that might cause or contribute to such differences include, but are not
limited to:
actions or inactions by governmental entities;
domestic and international macro-economic conditions; inflation or
deflation; the loss of, or changes in, key personnel; success, or lack
thereof, in formulating or executing our internal strategies and
operating plans including new store and new market expansion plans; cost
reduction initiatives and revenue enhancement strategies; changes in
demand for clothing or rental product; market trends in the retail
business; customer confidence and spending patterns; changes in traffic
trends in our stores; customer acceptance of our merchandise strategies,
including custom clothing; performance issues with key suppliers;
disruptions in our supply chain; severe weather; foreign currency
fluctuations; government export and import policies, including the
enactment of duties or tariffs; advertising or marketing activities of
competitors; the impact of cybersecurity threats or data breaches and
legal proceedings.

Forward-looking statements are intended to convey the Company’s
expectations about the future, and speak only as of the date they are
made.
We undertake no obligation to publicly update or revise any
forward-looking statements that may be made from time to time, whether
as a result of new information, future developments or otherwise, except
as required by applicable law.
However, any further disclosures
made on related subjects in our subsequent reports on Forms 10-K, 10-Q
and 8-K should be consulted. This discussion is provided as permitted by
the Private Securities Litigation Reform Act of 1995, and all written or
oral forward-looking statements that are made by or attributable to us
are expressly qualified in their entirety by the cautionary statements
contained or referenced in this section.

Tailored Brands, Inc.
Investor Relations
Julie MacMedan,
281-776-7575
VP, Investor Relations
[email protected]

Source: Tailored Brands, Inc.