Sept. 27, 2012
/PRNewswire/ -- Pathlight Capital, LLC, a portfolio company of Sycamore Partners, today announced it will serve as the Administrative and Collateral Agent on a
secured term loan facility to Furniture Brands International, Inc. (NYSE: FBN), a home furnishing company headquartered in
, MO. The
term loan, which matures
, is part of a larger re-financing effort by the company that includes a new
senior secured asset-based credit facility. The Junior Capital Division of Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), will serve as the Documentation Agent on the facility.
"We have enjoyed working with the Furniture Brands management team to provide a financing solution that supports the company's strategic initiatives, and we look forward to growing the relationship," said
, Chief Executive Officer of Pathlight Capital.
"Pathlight's experience with asset based lending allowed them to develop a thoughtful financing solution that enables us to execute our operating plan," said
, CFO of Furniture Brands.
About Pathlight Capital, LLC
Pathlight Capital is a commercial finance company dedicated to providing creative financing solutions sized between
-100MM. Pathlight specializes in providing secured loans to companies in the consumer and retail sector, but has the flexibility and experience to provide custom solutions in a variety of industries and situations. Pathlight is a portfolio company of private equity firm Sycamore Partners. For more information, please visit
About Sycamore Partners
Sycamore Partners is a private equity firm based in
specializing in consumer and retail investments. The firm has more than
in capital under management. The founders of Sycamore have a long history of partnering with management teams to improve the operating profitability and strategic value of their businesses. They work with companies they believe have significant growth potential, particularly when given the capital and outside expertise they need to succeed. For more information, please visit
About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and purchase order finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior and junior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across
the United States
and internationally. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting and others. For more information, visit wellsfargocapitalfinance.com.
For Pathlight and Sycamore Partners:
, Wilkinson Brimmer Katcher212-355-4449
SOURCE Sycamore Partners