• Express secures 140 million dollars in financing

    5 days ago - By Fashion United

    Express has secured a further 140 million dollars in financing to help bolster its liquidity.
    The fashion retailer has entered into a definitive loan agreement with
    Sycamore Partners as lead lender, along with Wells Fargo and Bank of
    America Merrill Lynch.
    The new financing includes a 90 million dollar FILO Term Loan and a 50 million dollar Delayed Draw Term Loan.
    “We continue to effectively manage our financial liquidity,” said CEO
    Tim Baxter in a statement. “I expect this additional capital will support the company through the duration of the pandemic, and allow us to continue the...
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