Iconix starts cash tender offer for 4.229%, 4.352% class A-2 notes

By William Gullotti

Buffalo, N.Y., March 2 – Iconix International Inc., formerly known as Iconix Brand Group, Inc., launched a cash tender offer to purchase between $25 million and $75 million from two series of its outstanding class A-2 notes, according to a press release on Thursday.

Treating both series of class A-2 notes as one collective series, Iconix is offering to buy from the following:

• $210,281,962 outstanding series 2012-1 4.229% senior secured notes (Cusip: 45112AAA5); and

• $101,833,544 outstanding series 2013-1 4.352% senior secured notes (Cusip: 45112AAC1).

In each case and due to scaling, the total consideration will be $250 per $1,000 principal amount plus accrued and unpaid interest from Jan. 25 until the anticipated settlement date.

The $210,281,962 outstanding amount of the series 2012-1 notes reflects that the original principal amount of $600 million has been partially repaid, resulting in a current scaling factor of 35.05%.

Likewise, the $101,833,544 outstanding amount of the series 2013-1 notes reflects that the original principal amount of $275 million has been partially repaid, resulting in a current scaling factor of 37.03%.

There are no guaranteed delivery provisions, and tenders may be subject to proration if the offer is oversubscribed.

Unless extended or earlier terminated, the offer will expire at 5 p.m., ET on March 30, which is also the withdrawal deadline.

Settlement is anticipated to occur March 31.

D.F. King & Co., Inc. is the information and tender agent for the offer (877 478-5045, 212 269-5550, iconix@dfking.com, https://www.dfking.com/iconix).

Iconix owns, licenses and markets a portfolio of consumer brands and is based in New York.

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