Home / Knowledge / News / Apparel/Garments / $15mn rise in American Apparel revolving credit facility
$15mn rise in American Apparel revolving credit facility
09
Jul '13
American Apparel, Inc., a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced a $15 million increase in its revolving credit facility with Capital One Leverage Finance Corp.

As a part of this transaction, The Bank of Montreal was added as a loan participant and the total commitment under this facility was raised to $50 million from $35 million. The additional commitment was made under substantially the same terms of the existing facility.

"We are very pleased with the expansion of our credit facility and proud to have Capital One and The Bank of Montreal as business partners. The expanded facility strengthens our balance sheet and provides us with greater flexibility to continue investing in our business and deliver on our 2013 financial targets.

"Our business fundamentals and momentum remain strong, and we are committed to building long-term shareholder value through financially smart decisions that drive return on capital," stated Dov Charney, American Apparel's Chairman and Chief Executive Officer.

About American Apparel

American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California. As of June 30, 2013, American Apparel had approximately 10,000 employees and operated 245 retail stores in 20 countries.

American Apparel

Must ReadView All

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search