Wells Fargo provided an ABL facility and Pathlight Capital provided a FILO facility for a total of $1.5 billion in financing for JCPenney after the company sold its retail and operating assets to Simon Property Group and Brookfield Asset Management to exit Chapter 11.
Pathlight Capital provided a $150 senior secured term loan facility for HBC, a holding company of portfolio businesses operating at the intersection of retail and real estate, including HBC Properties and Investments, Saks Fifth Avenue, Hudson’s Bay and Saks OFF 5TH.
Pathlight Capital is serving as administrative agent on a $180 million senior secured credit facility for Christmas Tree Shops, a brick-and-mortar discount retailer with a focus on seasonal products, to finance the company’s acquisition by Handil Holdings.
Bank of America acted as sole lead arranger on an amendment to a senior secured asset-based revolving credit facility while Pathlight Capital acted as sole lead arranger for a new $70 million term loan for Armstrong Flooring.
Pier 1 Imports is seeking bankruptcy court approval for a wind-down of its retail operations. The company’s DIP lenders, including Bank of America and Pathlight Capital, agreed to allow Pier 1 to overdraw the DIP facility by approximately $40 million to support continued operations.
Bank of America served as administrative agent and collateral agent for the $256 million DIP revolver for Pier 1 Imports. Pathlight served as agent for the DIP term loan.
Pier 1 Imports has entered into a Plan Support Agreement with a majority of its term loan lenders and is pursuing a sale of the company.
Wells Fargo Bank acted as administrative agent, collateral agent and term loan agent on a new $25 million term loan for Stage Stores, bringing the total availability under the company’s senior secured revolver to $475 million.
Summer Infant closed a $60 million asset-based revolving credit facility with Bank of America and a $17.5 million term loan with Pathlight Capital.
Summer Infant amended and extended its $60 million asset-based revolving credit facility with Bank of America and committed to a $17.5 million term loan with Pathlight Capital.