Women’s clothing retailer Chico’s FAS completed a $200 million senior secured credit facility with Wells Fargo and other lenders to support ongoing business operations.
“After an in-depth evaluation, we chose Wells Fargo to lead our new asset-based credit facility, which will offer us greater borrowing flexibility,” says Todd Vogensen, Chico’s executive vice president and CFO.
“Wells Fargo is excited to work with an industry leader such as Chico’s and strengthen our existing relationship with this important client by leveraging our expertise in the retail space to facilitate this refinancing,” says Keith Vercauteren, head of Retail Finance, Wells Fargo Capital Finance.
Chico’s FAS sells women’s clothing and accessories through its retail brands Chico’s, White House Black Market and Soma.
