0001157523-11-002191.txt : 20110425 0001157523-11-002191.hdr.sgml : 20110425 20110425073021 ACCESSION NUMBER: 0001157523-11-002191 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110421 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110425 DATE AS OF CHANGE: 20110425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZALE CORP CENTRAL INDEX KEY: 0000109156 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-JEWELRY STORES [5944] IRS NUMBER: 750675400 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04129 FILM NUMBER: 11776409 BUSINESS ADDRESS: STREET 1: 901 W WALNUT HILL LN STREET 2: MS 6B-3 CITY: IRVING STATE: TX ZIP: 75038 BUSINESS PHONE: 9725804000 MAIL ADDRESS: STREET 1: 901 WEST WALNUT HILL LANE STREET 2: MAIL STOP 6B-3 CITY: IRVING STATE: TX ZIP: 75038-1003 FORMER COMPANY: FORMER CONFORMED NAME: ZALE JEWELRY CO INC DATE OF NAME CHANGE: 19710510 8-K 1 a6694917.htm ZALE CORPORATION 8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

________________________

FORM 8-K

Current Report

Dated April 21, 2011

of

ZALE CORPORATION

A Delaware Corporation
IRS Employer Identification No. 75-0675400
SEC File Number 001-04129

901 West Walnut Hill Lane
Irving, Texas 75038
(972) 580-4000

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Definitive Material Agreement.

On April 21, 2011, the participants in the $120 million portion of the Company’s credit facility that was scheduled to expire on August 11, 2011, assigned their interest in that portion to other participants, including one new participant, and as part of the assignment process agreed to extend the maturity of that portion to April 30, 2014, the maturity for the remainder of the facility. A copy of the press release announcing the extension is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 Press Release regarding extension

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

					ZALE CORPORATION


				By:	/s/ Matthew W. Appel
					Matthew W. Appel
					Executive Vice President and
					Chief Financial Officer

Date: April 25, 2011

EX-99.1 2 a6694917ex99_1.htm EXHIBIT 99.1

Exhibit 99.1

Zale Extends Maturity on Portion of Bank Credit Facility

DALLAS--(BUSINESS WIRE)--April 25, 2011--Zale Corporation (NYSE: 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 (ranging from 350 basis points to 400 basis points).

Bank of America, N.A., administrative agent for the bank facility, arranged the transaction. Participants in the extension announced today are Bank of America, N.A. ($20 million increase for a total of $145 million), General Electric Capital Corporation ($40 million increase for a total of $165 million), and Ally Bank ($60 million), a new participant in the bank facility.

"The extension to our bank facility announced today exemplifies the growing confidence of the financial markets in the progress we have made in our turnaround program," said Matt Appel, Executive Vice President and Chief Financial Officer. "We are particularly pleased that half of the new funding is from a financial institution not previously part of our bank facility.”

About Zale Corporation

Zale Corporation is a leading specialty retailer of diamonds and other jewelry products in North America, operating approximately 1,870 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale Corporation's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Zale also operates online at www.zales.com, www.zalesoutlet.com, www.gordonsjewelers.com, www.peoplesjewellers.com and www.pagoda.com. Additional information on Zale Corporation and its brands is available at www.zalecorp.com.

CONTACT:
Zale Corporation
Roxane Barry, 972-580-4391
Director of Investor Relations