US clothes maker Levi Strauss is meeting with its bankers today to decide whether to drop its $350m (€419m) transatlantic high-yield bond offering.

Central to the decision is a $35m bill for syndicated loan fees that Levi could face if it does not complete the bond deal. According to a loan agreement, Levi's core banks will waive the fee as long as the company completes a $300m capital markets transaction by February 1 next year.