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E-commerce platform specialized in luxury goods Saks.com has entered into a five-year asset-based revolving credit facility in the amount of $350 million arranged by Bank of America. It also closed a 115 million dollar senior secured term loan arranged by Pathlight Capital LP.
Saks.com, an online shopping platform for men and women, offers many categories of luxury goods, including leather goods, shoes, accessories, ready-to-wear and more. A multitude of designers are present on the Saks Fifth Avenue platform such as Prada, Fendi, Alexander McQueen, Zimmermman, Christian Louboutin…
It offers a personalised experience and an assortment of pieces selected by experts. The company is redefining the luxury shopping experience with a digitally driven service model and seamless connection to a network of 40 Saks Fifth Avenue locations across North America.
The platform has now secured a five-year revolving credit facility, as Vince Phelan, CFO of Saks Fifth Avenue, said: “Given our strong market position and the improving economic environment, Saks is poised to become the leader in luxury e-commerce. These transactions and their favorable terms reflect the strength of our business and our financial position. In addition, this financing, combined with the cash we already have on hand, provides us with substantial liquidity and flexibility to execute our strategic plans and continue the upward trajectory we are already seeing in our business.”
The asset-based revolving credit facility remains available to Saks Fifth Avenue for business needs or corporate growth purposes.
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E-commerce platform specialized in luxury goods Saks.com has entered into a five-year asset-based revolving credit facility in the amount of $350 million arranged by Bank of America. It also closed a 115 million dollar senior secured term loan arranged by Pathlight Capital LP.
Saks.com, an online shopping platform for men and women, offers many categories of luxury goods, including leather goods, shoes, accessories, ready-to-wear and more. A multitude of designers are present on the Saks Fifth Avenue platform such as Prada, Fendi, Alexander McQueen, Zimmermman, Christian Louboutin…
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E-commerce platform specialized in luxury goods Saks.com has entered into a five-year asset-based revolving credit facility in the amount of $350 million arranged by Bank of America. It also closed a 115 million dollar senior secured term loan arranged by Pathlight Capital LP.
Saks.com, an online shopping platform for men and women, offers many categories of luxury goods, including leather goods, shoes, accessories, ready-to-wear and more. A multitude of designers are present on the Saks Fifth Avenue platform such as Prada, Fendi, Alexander McQueen, Zimmermman, Christian Louboutin…
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