NEW YORK -- Citibank is serving as agent for a $125 million credit facility for fashion designer Donna Karan Co.

The syndicate of five financial institutions includes other commercial banks and an institutional investment firm.

The new facility refinances an existing $110 million, 18-month revolving line of credit for which Citibank also served as agent. The new facility has a term of 51 months and consists of a revolving line of credit and a term loan. Borrowings under the new facility bear interest at a fixed margin over either the prime rate or the London interbank offered rate -- the option belonging to the company.

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