Umbrellas & Apparel Paying Off for MidOcean

MidOcean Partners-backed totes-ISOTONER is raising $225 million of debt, split between a $145 million first lien term loan and an $80 million second lien term loan. The umbrella, rainwear, slippers and other accessories designer will use the proceeds to refinance existing debt, pay MidOcean a $45 million dividend and repay preferred stock. MidOcean acquired the company for approximately $288 million from Bruckmann Rosser Sherrill in 2007.