---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-016578"
form_type: "8-K"
ticker: "XELB"
cik: "0001083220"
company_name: "XCel Brands, Inc."
filed_at: "2023-10-20T23:59:59+00:00"
generated_at: "2026-06-09T18:00:18.707984+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Xcel Brands subsidiary enters $5M term loan with Israel Discount Bank, maturing 2028

## Summary
- Term loan of $5M at Term SOFR + 4.25% (swap fixes at 9.46% per annum), matures Oct 19, 2028.
- Quarterly principal payments of $250K start Apr 1, 2024; prepayment permitted.
- Commitment fee of $50K and legal fees of $82K paid at closing; proceeds for fees and working capital.
- Financial covenants: minimum royalty ratio 1.15x (2023-2024), fixed charge coverage ratio ≥1.10x, and $250K minimum cash.
- Security granted on substantially all assets of H Halston IP and H Licensing, excluding trademarks; Xcel pledges membership interests.

## SEC filing metadata
- accession: 0001558370-23-016578
- form_type: 8-K
- ticker: XELB
- cik: 0001083220
- company_name: XCel Brands, Inc.
- filed_at: 2023-10-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083220/000155837023016578/0001558370-23-016578-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083220/000155837023016578/xelb-20231019x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-016578
- JSON: https://secwatch.observer/filing/0001558370-23-016578.json
- Plain text: https://secwatch.observer/filing/0001558370-23-016578.txt

## Key facts
- Debt Financings
  XCel Brands, Inc. incurred term loan of $5,000,000 with Israel Discount Bank of New York at Term SOFR plus 4.25% per annum maturing October 19, 2028.
  - Instrument: term loan
  - Principal: $5,000,000
  - Counterparty: Israel Discount Bank of New York
  - Rate: Term SOFR plus 4.25% per annum
  - Maturity: October 19, 2028
  - Event: incurrence
  source text: Agreement (the “Loan Agreement”) with Israel Discount Bank of New York (the “Lender”). Pursuant to the Loan Agreement, the Lender made a term loan in the aggregate amount of $5,000,000 (the “Term Loan”). The proceeds of the Term Loan were used to pay fees, costs and expenses incurred in connection with entering into the Loan Agreement, and may be used for
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083220/000155837023016578/0001558370-23-016578-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.