Pathlight Capital Agents $135,000,000 Senior Secured Term Facility for Designer Brands Inc.

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Jun 28, 2023, 08:30 ET

BOSTON, June 28, 2023 /PRNewswire/ -- Pathlight Capital LP ("Pathlight" or "Pathlight Capital") announced it is serving as the Administrative Agent on a $135,000,000 senior secured term facility for Designer Brands Inc., ("Designer Brands", "DBI" or the "Company"), one of the world's largest designers, producers, and retailers of footwear and accessories in North America.

Proceeds from the facility will be used to fund share repurchases and for general corporate purposes.

Pathlight Capital (PRNewsfoto/Pathlight Capital)

"Pathlight is a trusted partner for Designer Brands, and we are pleased to be working with them on this new term facility," said Doug Howe, Chief Executive Officer of Designer Brands. "We appreciate their partnership as we move forward."

Kenny Smith, Managing Director at Pathlight Capital said, "Pathlight is proud to work with Designer Brands and its management team to help execute their ongoing corporate initiatives. We look forward to being a partner in their continued long-term growth."

About Pathlight Capital
Pathlight Capital is a private credit investment manager dedicated to meeting the needs of companies that operate across a broad range of industries by providing asset-based loans secured on a first or second lien basis against tangible and intangible assets. Pathlight aims to provide creative financing solutions to allow management teams to access incremental liquidity for the purposes of funding working capital, debt refinancings, growth, acquisitions, dividends and turnaround strategies. For more information, please visit www.pathlightcapital.com.

About Designer Brands Inc.
Designer Brands is one of the world's largest designers, producers and retailers of the most recognizable footwear brands and accessories, transforming and defining the footwear industry through a mission of inspiring self-expression. With a diversified, world-class portfolio of coveted brands, including Keds, Lucky Brand, Crown Vintage, Vince Camuto, Topo Athletic, Jessica Simpson, Le Tigre and others, Designer Brands designs and produces on-trend footwear and accessories for all of life's occasions delivered to the consumer through a robust direct-to-consumer omni-channel infrastructure and powerful national wholesale distribution. Powered by a billion-dollar digital commerce business across multiple domains and nearly 640 DSW Designer Shoe Warehouse and The Shoe Company stores in North America, Designer Brands delivers current, in-line footwear and accessories from the largest national brands in the industry and holds leading market share positions in key product categories across Women's, Men's and Kids'. Designer Brands also distributes its brands internationally through select wholesale and distributor relationships while also leveraging design and sourcing expertise to build private label product for national retailers. Designer Brands is committed to being a difference maker in the world, taking steps forward to advance diversity, equity, and inclusion in the footwear industry and supporting a global community and the health of the planet by donating more than seven million pairs of shoes to the global non-profit Soles4Souls. To learn more, visit www.designerbrands.com.

The information presented in this release is the opinion of Pathlight Capital LP and does not reflect the view of any other person or entity. The above is for information purposes and should not be construed as an investment recommendation.

This release may contain an endorsement from an individual who may be supporting or recommending the activities of Pathlight Capital LP. Such individual has not been compensated directly or indirectly by Pathlight Capital LP for the use of his statements. The statements represent endorsement by that individual only and may not represent the experience of all counterparties.

SOURCE Pathlight Capital