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Frederick's of Hollywood secures new credit line
05 Jun '12
1 min read
Frederick's of Hollywood Group Inc. announced the closing of a three-year, $24 million senior secured revolving credit facility through Salus Capital Partners, LLC.
This new revolving credit line replaces the Company's previous $12.5 million revolving credit facility with Wells Fargo that was scheduled to mature in January 2013 and approximately $8 million term loan through Hilco Brands, LLC that was scheduled to mature beginning in July 2013.
“We are excited to consolidate our previous credit facility and term loan into one revolving line of credit, which offers us better overall flexibility.
Through this new credit line, Salus Capital Partners has expressed a strong vote of confidence in Frederick's of Hollywood's ongoing business model and has truly engaged us as a partner,” stated Thomas Lynch, the Company's Chairman and Chief Executive Officer.
“This is one of many recent milestones that we have achieved under our turnaround strategy.”
Further details concerning the Company's revolving credit facility with Salus Capital Partners will be contained in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.
This new revolving credit line replaces the Company's previous $12.5 million revolving credit facility with Wells Fargo that was scheduled to mature in January 2013 and approximately $8 million term loan through Hilco Brands, LLC that was scheduled to mature beginning in July 2013.
“We are excited to consolidate our previous credit facility and term loan into one revolving line of credit, which offers us better overall flexibility.
Through this new credit line, Salus Capital Partners has expressed a strong vote of confidence in Frederick's of Hollywood's ongoing business model and has truly engaged us as a partner,” stated Thomas Lynch, the Company's Chairman and Chief Executive Officer.
“This is one of many recent milestones that we have achieved under our turnaround strategy.”
Further details concerning the Company's revolving credit facility with Salus Capital Partners will be contained in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.
Frederick's of Hollywood Group Inc
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