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Private Debt Firms Roil Asset-Based Loans as Liquidity Heroes

Private Debt Firms Roil Asset-Based Loans as Liquidity Heroes
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.

Private Debt Firms Roil Asset-Based Loans as Liquidity Heroes

(Bloomberg) Private credit firms are extending their reach into the more than $260 billion global asset-based lending business, seizing on a pause by some traditional Wall Street banks to take on more corporate debt.Most Read from BloombergBillionaire Sternlicht Sees ‘Category 5 Hurricane’ Spurred by Fed Rate HikesApple Tests ‘Apple GPT,’ Develops Generative AI Tools to Catch OpenAISelloffs, Inequality, China Tension: Here Are the Next Big RisksNadella’s Microsoft Payouts Top $1 Billion on 1,

Xcel Brands Announces $100 Million Refinancing

Share Xcel Brands, owner of fine jeweler Judith Ripka as well as fashion brands C. Wonder, Isaac Mizrahi, Logo by Lori Goldstein, Halston, and Highline, has refinanced its credit facility to the tune of $100 million. The refinancing includes a $25 million term loan under BHI and First Eagle Alternative Credit, and an additional $25 million for acquisitions. A separate loan by First Eagle Alternative Credit will provide an additional $50 million. The loans are subject to lender approval. Robert W. D’Loren, Xcel Brands’ chairman and CEO, said in a statement that he welcomes the partnership with BHI and First Eagle. “The facilities provide us with an immediate $10 million of liquidity and up to $75 million for future acquisitions,” he said. “We are seeing attractive opportunities that can drive our digital and livestreaming DTC businesses. Timing is perfect for a facility of this nature.”

Xcel Brands Announces $100mm Refinancing and Acquisition Facility

Xcel Brands Announces $100mm Refinancing and Acquisition Facility
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