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Bank of America Agents $85MM Asset-Based Revolving Credit Facility for Vince Holding

June 26, 2023, 08:15 AM
Filed Under: Retail

Vince Holding Corp., a global contemporary retailer, entered into a new five-year credit agreement for an $85 million senior secured asset-based revolving credit facility expected to mature in June 2028. The new ABL Credit Facility was entered into with Bank of America acting as administrative agent and replaces the Company's previous $70 million senior secured asset-based revolving credit facility set to mature in June 2024, which was repaid in full and terminated.

Jack Schwefel, Chief Executive Officer of VNCE said, “Following the close of our transaction with Authentic Brands Group, we have taken swift and significant actions to strengthen our balance sheet and increase our overall liquidity position. With this most recent refinancing of our ABL Credit Facility we have meaningfully increased our financial flexibility to execute on our objectives which we believe will enhance shareholder returns and position the Company for long-term success.”

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