Destination XL repays $17.5 million first-in, last-out term loan

Chicago, Sept. 7 – Destination XL Group Inc. announced the early repayment of its $17.5 million first-in, last-out term loan facility, according to an 8-K filing with the Securities and Exchange Commission.

The loan was due to mature March 16, 2026.

The facility was under Bank of America, NA.

In connection with the early repayment, the lender agreed to a reduction of the prepayment premium.

Destination XL paid a total of $18.6 million, $17.5 million in principal and $1.1 million in interest and prepayment premium

Funding came from cash on hand.

Destination XL is a Canton, Mass.-based specialty retailer of big and tall men’s apparel.

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