$27.5 million Senior Term Loan
Established in 2002, Vince, LLC (“Vince” or the “Company”), an indirectly wholly owned subsidiary of Vince Holding Corp. (NYSE: VNCE) is a leading global luxury apparel and accessories brand. Vince offers women’s and men’s ready-to-wear, shoes, handbags, and home products that are sold in prestige locations worldwide. The company’s products are available through their upscale wholesale partners, full-price and outlet locations and its e-commerce site, vince.com.
The Company intended to refinance its existing debt to extend the maturities and raise additional debt to finance continued growth.
SLR Credit Solutions provided a $27.5 million Senior Term Loan secured by a 1st lien on all of the Company’s assets excluding the working capital assets with an advance against the appraised value of Vince.