TSL Express Daily News

Leading Consumer Products Livestreaming Company Sees Significant Opportunities

Xcel Brands, Inc. (NASDAQ: XELB) today announced it has entered into a refinancing of its existing credit facility.

The refinancing provides an initial $25 million term loan under a facility jointly provided by BHI and First Eagle Alternative Credit, LLC, and up to an additional $25 million for acquisitions, subject to lender approval; and separately, through First Eagle Alternative Credit, LLC an additional $50 million acquisition facility subject to lender approval.

“I am delighted to further our relationship with BHI and welcome First Eagle into our capital structure. The facilities provide us with an immediate $10 million of liquidity and up to $75 million for future acquisitions. We are seeing attractive opportunities that can drive our digital and livestreaming DTC businesses. Timing is perfect for a facility of this nature,” said Robert W. D’Loren, Xcel Brands’ Chairman and Chief Executive Officer.

“First Eagle is excited to be part of the financing solution and looks forward to supporting XCEL’s strategic growth,” said Larry Klaff, Senior Managing Director for First Eagle.

“BHI’s primary goal is to meet the business objectives of our clients and we are delighted to provide financing to facilitate Xcel’s growth,” said Mitchell Barnett, BHI Executive Vice President and Head of Commercial & Industrial and Brand Financing.

About Xcel Brands

Xcel Brands, Inc. (NASDAQ:XELB) is a media and consumer products company engaged in the design, production, marketing, wholesale, and direct-to-consumer sales of branded apparel, footwear, accessories, jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. The company has sold in excess of $3BB US in retail sales through live streaming on TV. Xcel was founded by Robert W. D'Loren in 2011 with a vision to reimagine shopping, entertainment, and social media as one. Xcel owns the Isaac Mizrahi, Judith Ripka, Halston, and C. Wonder brands, and it owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC, pioneering a ubiquitous sales strategy which includes the promotion and sale of products under its brands through interactive television, brick-and-mortar retail, e-commerce and peer to peer channels. Headquartered in New York City, Xcel Brands is led by an executive team with significant livestream production, merchandising, design, production, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. With an experienced team of professionals focused on design, production, and digital marketing, Xcel maintains control of product quality and promotion across all of its product categories and distribution channels. Xcel differentiates by design. www.xcelbrands.com

About BHI (www.bhiusa.com)

BHI, the U.S division of Bank Hapoalim, Israel’s leading financial institution, provides commercial banking solutions to middle market clients in sectors including commercial real estate, C&I, food and beverage, entertainment, apparel, healthcare and high-tech. In addition to its New York headquarters, the bank operates U.S. Representative Offices in Woodcliff Lake, New Jersey; Miami, Florida; and Los Angeles, California.

About First Eagle Alternative Credit, LLC

First Eagle Alternative Credit, LLC (”FEAC”) is an investment manager for both direct lending and broadly syndicated investments that, together with its affiliates, has approximately $20 billion of assets under management as of December 31, 2020, through public and private vehicles, collateralized loan obligations, separately managed accounts and co-mingled funds. FEAC and its subsidiary maintain a variety of advisory or sub-advisory relationships across its investment platform, including First Eagle Alternative Capital BDC, Inc. (Nasdaq: FCRD), a publicly traded business development company and First Eagle Senior Loan Fund (NYSE: FSLF), a non-diversified, closed-end management investment company. FEAC is headquartered in Boston and also has investment teams in Chicago, Dallas, Los Angeles and New York.