Destination XL Group, Inc. Announces Expanded Credit Facility And New Term Loan

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Destination XL Group, Inc.
DXLG
, the largest multi-channel specialty retailer of big & tall men's apparel, announced today that it has increased its existing asset-based revolving line of credit with Bank of America, N.A. by $25 million to $125 million. In addition, the Company entered into a new agreement with Wells Fargo Capital Finance for a $15 million five-year senior secured second lien term loan. "These new financing agreements provide us with additional liquidity and financial flexibility as we execute our plan to complete the conversion to Destination XL by the end of fiscal 2017," said President and CEO David Levin. "This was an opportune time to increase our borrowing capacity on favorable terms. We look forward to continuing our alliance with Bank of America and establishing a stronger relationship with Wells Fargo." Destination XL will release its third-quarter fiscal 2014 financial results before the market opens on Friday, November 21, 2014.
Posted In: NewsFinancingPress Releases
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