Sound Point Capital Management provided an accounts receivable facility for Centric Brands, a global lifestyle brand collective that designs, sources and markets branded products in the apparel, accessories, beauty and entertainment categories. The transaction refinances and upsizes a similar facility that was previously held by Sound Point.
“We have been a lender to the company for two years and have strong conviction in the management team that has navigated a challenging retail environment,” Morgan Dean, a managing director in Sound Point’s Strategic Capital business, said. “The company has grown and requested an upsized facility, which we were happy to provide. We look forward to strengthening our relationship with Centric Brands and supporting their next phase of growth.”
“Centric has enjoyed a lender relationship with Sound Point for two years with an accounts receivable facility provided in 2020,” Deborah Bell, senior vice president of strategic finance for Centric Brands, said. “We continue to value Sound Point as a key lender supporting our new phase of growth as we upsize the facility to reflect our continued business momentum. We look forward to continuing the partnership with Sound Point.”