Vince Holding lifts credit agreement to $80 million, extends to 2020

By Toni Weeks

San Luis Obispo, Calif., June 4 – Vince Holding Corp. indirect wholly owned subsidiary Vince, LLC entered into a first amendment to its credit agreement dated Nov. 27, 2013 with Bank of America, NA as administrative agent and collateral agent, according to an 8-K filing with the Securities and Exchange Commission.

The June 3 amendment extends the maturity date of the credit agreement to June 3, 2020 from Nov. 27, 2018 and increases commitments to $80 million from $50 million, with a loan cap of $70 million until debt obligations under the borrower’s term loan facility have been paid in full.

Among other things, the amendment also modifies the conditions on prepayment of other indebtedness as well as the conditions upon making a restricted payment.

Vince is a New York-based diversified apparel company.

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