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BRIEF-Iconix provides business update and amends term loan
2017年10月30日 / 下午1点36分 / 21 天前

BRIEF-Iconix provides business update and amends term loan

Oct 30 (Reuters) - Iconix Brand Group Inc

* Iconix provides business update and announces amendment to term loan

* Informed by Walmart that Danskinnow license, which is a diffusion of Danskin brand, will not be renewed beyond January 2019​

* As a result, royalty revenue for Danskin brand is estimated to decline approximately $15.5 million in 2018​

* Due to some developments, co forecasted that it would unlikely be in compliance with some its financial debt covenants in 2018

* Recently engaged in talks with lenders to provide relief under financial debt covenants, entered amendment of senior secured term loan

* As a result of discussions with lenders, ‍co agreed to reduce size of credit facility by approximately $75 million to $225 million​

* Continues to evaluate capital raising options to repay debt, strategic alternatives, including sale of certain assets or entire co

* Danskin will continue to be distributed to leading retailers including Lord & Taylor, Costco and TJMaxx​

* Working with Guggenheim Securities LLC as its financial advisor in connection with ongoing efforts to “strengthen its balance sheet” Source text for Eikon: Further company coverage:

我们的标准:汤森路透“信任原则”
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