Pathlight Capital Agents $125MM FILO Facility for Neiman Marcus Group

Pathlight Capital ("Pathlight") announced it is serving as the FILO Agent on the recently funded $125,000,000 FILO Facility for The Neiman Marcus Group ("Neiman Marcus" or the "Company"), one of the largest omni-channel luxury fashion retailers in the world.

The FILO Facility was funded upon the Company's successful emergence from Chapter 11 on September 25, 2020. Proceeds from the facility will be used to refinance existing debt and provide liquidity to support the reorganized Company's ongoing operations and strategic initiatives.

"The newly emerged Neiman Marcus Group is now in a much stronger financial position than prior to restructuring. NMG has emerged with substantially reduced debt, one of the best capital structures among multi-retailers and access to over $475M of liquidity from cash and availability under our ABL facility. It was a pleasure working with the Pathlight Capital team to establish the new FILO facility. The increased access to capital provides enhanced financial flexibility to respond to the rapidly changing environment and allows continued investment in our business," stated Geoffroy van Raemdonck, Chief Executive Officer of Neiman Marcus Group.

"Neiman Marcus is an iconic luxury retailer that has been an industry leader for over 100 years, offering distinctive luxury brands through a renowned customer experience," said Katie Hendricks, Managing Director at Pathlight Capital. "We believe the reorganized Company is well positioned to capitalize on its digital transformation strategy and are excited to support the management team and new equity in this next chapter of the business."

About Pathlight Capital

Pathlight Capital is a private credit investment manager dedicated to meeting the needs of companies that operate across a broad range of industries by providing asset-based loans secured on a first or second lien basis against tangible and intangible assets. Pathlight provides creative financing solutions to allow management teams to access incremental liquidity for the purposes of funding working capital, debt refinancings, growth, acquisitions, dividends and turnaround strategies. For more information, please visit www.pathlightcapital.com.

About Neiman Marcus Group

Neiman Marcus Group is a luxury, multi-branded, omni-channel fashion retailer conducting integrated store and online operations under the Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow brand names. For more information, visit www.neimanmarcusgroup.com.