This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Junior Capital Team At Wells Fargo Capital Finance And Pathlight Capital Provide $100 Million Term Loan To RadioShack

Stocks in this article: RSH WFC

SANTA MONICA, Calif. and BOSTON, Oct. 3, 2012 /PRNewswire/ -- Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), recently agented a $100 million term loan for the financing of RadioShack Corporation, a Ft. Worth, Texas-based consumer electronics retailer. Pathlight Capital, LLC, a portfolio company of Sycamore Partners, acted as Syndication Agent on the transaction.

RadioShack is one of North America's largest companies in its segment, operating both stores and kiosks located throughout big-box retailers in the United States and Mexico. The company is traded on the NYSE under the ticker RSH. As of June 30, 2012, RSH operated 4,423 company-operated retail stores under the RadioShack brand name in the United States, 1,503 Target store mobile kiosks, 227 company-operated stores under the RadioShack brand in Mexico, and 1,085 dealer and other outlets.

"We are pleased to provide this financing to RadioShack," said D. Michael Murray, division manager and managing director with the Junior Capital Division of Wells Fargo Capital Finance. "This transaction is another example of our flexibility to tailor financing solutions to meet the needs of our clients."

"We are pleased to have closed on this new term loan with Wells Fargo Capital Finance and Pathlight Capital. This new financing along with the $50 million term loan announced in August  largely completes the capital structure strategy we discussed on the second-quarter earnings call, in which we outlined our goal to refinance approximately one-half of the debt maturity coming due in August 2013," said Dorvin Lively, interim chief executive officer of RadioShack.

About Wells Fargo Capital FinanceWells 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.

About Wells FargoWells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America.  Wells Fargo & Company was ranked No. 23 on Fortune's 2011 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially. 

About Pathlight Capital, LLCPathlight Capital is a commercial finance company dedicated to providing creative financing solutions sized between $10-100MM. 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 www.pathlightcapital.com.

About Sycamore PartnersSycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than $1 billion 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 www.sycamorepartners.com.

For Pathlight Capital: Michael Freitag Joele Frank, Wilkinson Brimmer Katcher212-355-4449

SOURCE Pathlight Capital

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs