Iconix Brand to repay senior secured term loan via Sharper Image sale

By Tali Rackner

Norfolk, Va., Dec. 30 – Iconix Brand Group, Inc. plans to pay down its senior secured term loan using a portion of the proceeds from its sale of the rights to the Sharper Image brand and related intellectual property assets to ThreeSixty Group, according to a press release.

Proceeds will also be used to pay down the company’s senior secured notes issued under its securitization facility.

In total, Iconix intends to pay down about $115 million of debt.

The company is a New York-based owner, licenser and marketer of consumer brands.

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