Iconix Brand Group closed its previously announced $300 million senior secured term loan credit facility provided by credit funds managed by affiliates of Fortress Investment Group.

The proceeds have been deposited into an escrow account and will be used to repay the company’s convertible notes due June 2016 on or before their maturity.

Iconix Brand Group owns, licenses and markets a growing portfolio of consumer brands including: Candie’s, Bongo, Joe Boxer, Rampage and Strawberry Shortcake.