VINCE HOLDING CORP. (VNCE): debt financing — Vince Holding refinances with $85M ABL credit facility, extends maturity to 2028

VINCE HOLDING CORP.

New $85M senior secured ABL revolving credit facility with Bank of America, maturing June 2028.
Replaces previous $70M facility maturing 2024; repaid in full and terminated.
Fourth amendment to third lien credit agreement extends its maturity to September 2028.
CEO Jack Schwefel says refinancing strengthens balance sheet and enhances shareholder returns.

item 1.01 item 1.02 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VINCE HOLDING CORP. incurred revolving credit of $85 million with Bank of America, N.A. at Term SOFR, the Base Rate, or SOFR Daily Floating Rate maturing the earlier of June 23, 2028 and 91 days prior to the earliest maturity date of any Material Indebtedness.

Instrument: revolving credit
Principal: $85 million
Counterparty: Bank of America, N.A.
Rate: Term SOFR, the Base Rate, or SOFR Daily Floating Rate
Maturity: the earlier of June 23, 2028 and 91 days prior to the earliest maturity date of any Material Indebtedness
Event: incurrence

Exact text from the filing

On June 23, 2023, Vince, LLC (the “Borrower”), an indirectly wholly owned subsidiary of Vince Holding Corp. (the “Company”), entered into a new $85 million senior secured revolving credit facility

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VINCE HOLDING CORP. amended credit facility with SK Financial Services, LLC maturing the earlier of (i) September 30, 2028 and (ii) 91 days prior to the earliest maturity date of any Material Indebtedness.

Instrument: credit facility
Counterparty: SK Financial Services, LLC
Maturity: the earlier of (i) September 30, 2028 and (ii) 91 days prior to the earliest maturity date of any Material Indebtedness
Event: amendment

Exact text from the filing

On June 23, 2023, the Borrower entered into the Fourth Amendment (the “Third Lien Fourth Amendment”) to the Third Lien Credit Agreement. The Third Lien Fourth Amendment amends the Third Lien Credit Agreement to, among other things, (a) extend the Third Lien Credit Agreement’s maturity date to the earlier of (i) September 30, 2028

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VINCE HOLDING CORP. amended Third Lien Fourth Amendment (effective 2023-06-23).

Action: amendment
Agreement: credit facility
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, the Borrower entered into the Fourth Amendment (the “Third Lien Fourth Amendment”) to the Third Lien Credit Agreement.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VINCE HOLDING CORP. entered into Credit Agreement with Bank of America, N.A. as Agent, the other lenders from time to time party thereto, and BofA Securities, Inc., as sole lead arranger and sole bookrunner valued at $85 million (effective 2023-06-23).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A. as Agent, the other lenders from time to time party thereto, and BofA Securities, Inc., as sole lead arranger and sole bookrunner
Value: $85 million
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, Vince, LLC (the “Borrower”), an indirectly wholly owned subsidiary of Vince Holding Corp. (the “Company”), entered into a new $85 million senior secured revolving credit facility (the “Revolving Credit Facility”) pursuant to a Credit Agreement (the “Credit Agreement”) by and among the Borrower, the guarantors named therein, Bank of America, N.A. (“BofA”), as Agent, the other lenders from time to time party thereto, and BofA Securities, Inc., as sole lead arranger and sole bookrunner.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VINCE HOLDING CORP. terminated a credit facility with Citizens Bank, N.A., as administrative agent and collateral agent, and other lenders from time to time party thereto.

Action: termination
Agreement: credit facility
Counterparty: Citizens Bank, N.A., as administrative agent and collateral agent, and other lenders from time to time party thereto

Exact text from the filing

All outstanding amounts under the Borrower’s existing $70 million senior secured revolving credit facility with Citizens Bank, N.A., as administrative agent and collateral agent, and other lenders from time to time party thereto, were repaid in full and such facility was terminated pursuant to the terms thereof as a result of all parties completing their obligations under such facility.

View on SEC.gov

26 debt financings filed in the last 30 days. Browse all debt financings →

VINCE HOLDING CORP. filing history →

Source: SEC EDGAR

accession 0000950170-23-029729

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.