Junior Capital team at Wells Fargo Capital Finance and Pathlight Capital provide $100 million term loan to RadioShack
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.