Designer Brands terminates $250 million term loan

By Wendy Van Sickle

Columbus, Ohio, Feb. 10 – Designer Brands Inc. terminated its $250 million term loan credit agreement with Sixth Street Specialty Lending, Inc. as administrative agent and lead arranger, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement was scheduled to mature on Aug. 7, 2025, but the company elected to repay all amounts outstanding under the term loan with proceeds of its existing senior secured asset-based revolver.

The company incurred a prepayment premium of $6.9 million.

Designer Brands is a Columbus, Ohio-based designs, produces and retails footwear and accessories.

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