US’ Guess to expand $150 mn North American credit facility

The amended facility has an option to further expand its total amount by up to $150 million, subject to certain conditions. Just as with its new European credit facility that was established earlier this year, the new North American credit facility will include annual interest rate and fee adjustments based on the company’s achievement of certain sustainability goals in its operating and manufacturing processes, according to a press release by Guess.

Guess has expanded its access to capital in North America. The company has entered into a $150 million senior secured asset-based revolving credit facility with a five-year term. The facility amends and extends its existing $120 million North American credit facility. The amended facility can also further expand its total amount up to $150 million.

“We are very pleased to finalise this credit facility, which expands our access to capital in North America and extends our existing facility for another five years. Combined with this year’s new €250 million European facility, the company will now have access to over $400 million of capital across both North America and Europe, which reflects our lenders’ confidence in our business strategies and financial position. Importantly, both facilities also include sustainability incentives, which align our financial and sustainability goals and underscore our commitment to protecting the environment by integrating sustainability into our operations,” commented Carlos Alberini, chief executive officer.

Fibre2Fashion News Desk (NB)