Tory Burch Seeks Loan to Buy Back General Atlantic’s Stake (1)

Luxury retailer Tory Burch LLC intends to repurchase private equity firm General Atlantic’s stake with some of the proceeds of a planned $700 million leveraged loan.

The New York-based company, which sells high-end women’s clothing and accessories, will spend $346 million on General Atlantic’s interest, the size of which wasn’t disclosed, according to a person familiar with the matter.

General Atlantic became an investor in 2012, when fashion companies were riding a bull market. The private equity firm bought its holding from Chris Burch, the former husband of designer Tory Burch, as part of a deal ...