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UCC declares completion of latest financing for RAMPAGE
20 Sep '05
3 min read
UCC Capital Corporation (UCC), an industry leader in middle market lending secured by intellectual property, is pleased to announce the completion of its latest financing for leading brand of contemporary women's apparel and accessories Rampage. The $40 million single tranche of asset-backed bonds have seven (7) year maturity, with UCC acting as the underwriter.
The proceeds will be used to fund a $45.9 million corporate acquisition of Rampage and additional planned acquisitions by the Iconix Brand Group (Nasdaq: ICON), with UCC also acting as the mergers and acquisitions advisor on the deal.
Robert W. D'Loren, President and CEO of the firm, stated, "Rampage is a distinctive label that capitalizes on brand diversification within the Iconix portfolio. They are proud of this affiliation and offering assistance to help them achieve greater market penetration." D'Loren added, "The concept of reaching across consumer demographics is the future for Seventh Avenue and will allow brand managers to more effectively respond to changing trends."
"UCC has effectively helped Rampage to expand brand in the most productive manner possible," said David Ellis, President of Rampage."They are poised to continue corporate growth as a valuable member of the Iconix Brand Group," he noted in closing.
UCC and Iconix have worked together in the past with Candie's and Bongo Jeans on the original asset-backed securitization, the recent acquisition of Joe Boxer, and with Candie's and UCC's acquisition of Badgley Mischka.
The proceeds will be used to fund a $45.9 million corporate acquisition of Rampage and additional planned acquisitions by the Iconix Brand Group (Nasdaq: ICON), with UCC also acting as the mergers and acquisitions advisor on the deal.
Robert W. D'Loren, President and CEO of the firm, stated, "Rampage is a distinctive label that capitalizes on brand diversification within the Iconix portfolio. They are proud of this affiliation and offering assistance to help them achieve greater market penetration." D'Loren added, "The concept of reaching across consumer demographics is the future for Seventh Avenue and will allow brand managers to more effectively respond to changing trends."
"UCC has effectively helped Rampage to expand brand in the most productive manner possible," said David Ellis, President of Rampage."They are poised to continue corporate growth as a valuable member of the Iconix Brand Group," he noted in closing.
UCC and Iconix have worked together in the past with Candie's and Bongo Jeans on the original asset-backed securitization, the recent acquisition of Joe Boxer, and with Candie's and UCC's acquisition of Badgley Mischka.
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