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Debt (Tables)
12 Months Ended
Feb. 02, 2013
Debt  
Schedule of debt

 The following table details our debt (in thousands):

 
  February 2,
2013
  January 28,
2012
 

$235 million U.S. Secured Revolving Credit Facility ("U.S. Revolving Credit Agreement")(1)

  $ 108,552     N/A  

$175 million U.S. Secured Revolving Credit Facility ("Prior Revolving Credit Agreement")(1)

    N/A   $  

£7 million Senior Secured Revolving Credit Facility ("U.K. Revolving Credit Agreement")(2)

    7,944     2,571  

11.375% Senior Secured Notes ("Senior Secured Notes")(3)(4)

    N/A     105,000  

Unamortized discount

        (1,595 )
           

Total debt

    116,496     105,976  

Short-term debt

    (7,944 )   (2,571 )
           

Long-term debt

  $ 108,552   $ 103,405  
           

(1)
The U.S. Revolving Credit Agreement, entered into in June 2012, amended and restated the Prior Revolving Credit Agreement, which was scheduled to mature in August 2013. The U.S. Revolving Credit Agreement generally (i) is limited to a borrowing base consisting of specified percentages of eligible categories of assets; (ii) accrues variable-rate interest, unused line fees and letter of credit fees based upon a pricing grid which is tied to average unused availability and/or utilization; (iii) requires periodic interest payments with principal due at maturity (June 2017); and (iv) is generally secured by a first priority security interest in the accounts receivable, inventory, general intangibles and eligible trademarks, investment property (including the equity interests of certain subsidiaries), deposit accounts, intercompany obligations, equipment, goods, documents, contracts, books and records and other personal property of Oxford Industries, Inc. and substantially all of its domestic subsidiaries.
(2)
The U.K. Revolving Credit Agreement generally (i) accrues interest at the bank's base rate plus an applicable margin; (ii) requires interest payments monthly with principal payable on demand; and (iii) is collateralized by substantially all of the assets of our United Kingdom Ben Sherman subsidiaries.

(3)
In the second quarter of fiscal 2012, we redeemed all of the remaining outstanding $105 million in aggregate principal amount of the Senior Secured Notes, which were scheduled to mature in July 2015. The redemption of the Senior Secured Notes for $111.0 million, plus accrued interest, and the related write-off of $1.7 million of unamortized deferred financing costs and $1.4 million of unamortized bond discount resulted in a loss on repurchase of senior notes of $9.1 million. The redemption of the Senior Secured Notes satisfied and discharged all of our obligations with respect to the Senior Secured Notes and the related indenture and was funded primarily through borrowings under our U.S. Revolving Credit Agreement.

(4)
In the second and third quarters of fiscal 2011, we repurchased, in privately negotiated transactions, $45.0 million in aggregate principal amount of the Senior Secured Notes for $52.2 million, plus accrued interest. The repurchase of the Senior Secured Notes and related write-off of $1.0 million of unamortized deferred financing costs and $0.8 million of unamortized bond discount resulted in a loss on repurchase of senior notes of $9.0 million in fiscal 2011.