By Angela McDaniels
Tacoma, Wash., June 14 - Iconix Brand Group, Inc. announced that some of its subsidiaries priced a private offering of $275 million principal amount of 4.352% senior secured notes under its securitization program.
The notes have an anticipated repayment date of Jan. 25, 2020, according to a company news release.
The size of the offering was increased from a previously announced $250 million.
The notes are secured by substantially all of the assets of the co-issuers, which include, among other things, intellectual property assets and the rights to receive payments thereunder, joint venture interests and various accounts.
The offering is expected to close June 21.
Iconix expects to use the proceeds for general corporate purposes, which may include investing in or acquiring new brands.
The notes have not been registered under the Securities Act or applicable state securities laws.
Iconix is a New York-based company that owns, licenses and markets a portfolio of consumer brands.
| Issuer: | Subsidiaries of Iconix Brand Group, Inc.
|
| Issue: | Senior secured notes
|
| Amount: | $275 million
|
| Maturity: | Jan. 25, 2020
|
| Coupon: | 4.352%, payable quarterly
|
| Price: | Par
|
| Yield: | 4.352%
|
| Pricing date: | June 14
|
| Settlement date: | June 21
|
| Distribution: | Private placement
|
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