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Iconix Brand Group Announces Proposed $1.1 Billion Securitization Program

NEW YORK, Oct. 31, 2012 /PRNewswire/ -- Iconix Brand Group, Inc. (Nasdaq: ICON) ("Iconix" or the "Company") today announced the intention of certain of its subsidiaries to launch a new securitized financing program, expected to consist initially of $500 million of senior secured term notes and $100 million of variable funding notes.  The securitized financing program will allow for the issuance, based on the initially securitized assets, of up to a maximum of an additional $500 million of senior secured term notes based on market and certain other conditions, for total borrowing capacity of up to $1.1 billion

The net proceeds of the new facility will be used to finance the Company's pending acquisition of the Umbro brand, to repay outstanding indebtedness under the Company's existing revolving credit facility and asset backed notes, and for general corporate purposes, including potential acquisitions and/or share repurchases.

Subject to market and other conditions, the new facility is anticipated to close during the fourth quarter of 2012.

The notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state securities laws.

This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or any other security, and shall not constitute an offer, solicitation or sale of the notes or any other security in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

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