- Robyn Turk |
Lucky Brand denim has announced a successful refinancing transaction that upsized its existing first lien term loan via existing lenders Wells Fargo Capital Finance and Gordon Brothers Finance Company.
The transaction also refinanced Lucky Brand's former second lien credit facility via a new second lien term loan provided by a joint venture backed by Lantern Capital Partners and Restore Capital. The joint venture between Lantern and ReStore results in the two parties acquiring a minority equity stake in Lucky Brand.
"Completing the refinancing marks a significant step forward for the Company and our customers, vendors and other stakeholders," Nigel Kershaw, chief financial officer of Lucky Brand, said in a statement.
"We would like to thank Wells Fargo Capital Finance and Gordon Brothers Finance Company for creating financial solutions that support our future business needs. We would also like to thank Lantern and ReStore for their confidence and we are excited to welcome them as strategic partners."