Iconix Brand Group Announces Upsizing and Pricing of $600 Million
Securitized Notes
NEW YORK, Nov. 16, 2012 /PRNewswire/ -- Iconix Brand
Group, Inc. (Nasdaq: ICON) ("Iconix" or the "Company"), today
announced that certain of its subsidiaries have priced $600 million of Series 2012-1, Class A-2 Fixed
Rate Senior Secured Notes ("Class A-2 Senior Notes"). The size of
the Class A-2 Senior Notes offering was increased from the
previously announced $500 million
principal amount of Class A-2 Senior Notes to $600 million principal amount of Class A-2 Senior
Notes. The Class A-2 Senior Notes, which will be issued in a
private securitized financing transaction, will have an expected
life of seven years and bear interest at 4.229% per annum, payable
quarterly.
The net proceeds from the sale of the Class A-2 Senior Notes
will be used to finance the Company's pending acquisition of the
Umbro brand, to repay outstanding indebtedness under the Company's
existing revolving credit facility and asset backed notes, and for
general corporate purposes, including potential acquisitions and/or
share repurchases. The Company expects the offering to close the
week of November 26, 2012. The Class
A-2 Senior Notes will not be registered under the Securities Act of
1933, as amended (the "Securities Act") or any state securities
laws, and, unless so registered, may not be offered or sold in
the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and any applicable state securities laws.
This press release is neither an offer to sell nor the
solicitation of an offer to buy the Class A-2 Senior Notes or any
other security, and shall not constitute an offer, solicitation or
sale of the Class A-2 Senior Notes or any other security in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. This press release is being issued pursuant to and
in accordance with Rule 135c under the Securities Act.
About Iconix Brand Group, Inc.
Iconix Brand Group, Inc. owns, licenses and markets a growing
portfolio of consumer brands including: CANDIE'S (R), BONGO (R),
BADGLEY MISCHKA (R), JOE BOXER (R), RAMPAGE (R), MUDD (R), MOSSIMO
(R), LONDON FOG (R), OCEAN PACIFIC
(R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R),
FIELDCREST (R), CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), ED
HARDY (R) and SHARPER IMAGE (R). In addition, Iconix
owns interests in the ARTFUL DODGER (R), ECKO (R), MARC ECKO (R), MATERIAL GIRL (R), PEANUTS (R)
and TRUTH OR DARE (R) brands. The Company licenses its brands to a
network of leading retailers and manufacturers that touch every
major segment of retail distribution from the luxury market to the
mass market in both the U.S. and worldwide. Through its in-house
business development, merchandising, advertising and public
relations departments Iconix manages its brands to drive greater
consumer awareness and equity.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995. The statements that are not historical facts
contained in this press release are "forward-looking statements"
within the meaning of U.S. federal securities laws that involve a
number of known and unknown risks, uncertainties and other factors,
all of which are difficult or impossible to predict and many of
which are beyond the control of the Company, which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, but are not limited to,
uncertainty regarding the results of the Company's acquisition of
additional licenses, continued market acceptance of current
products and the ability to successfully develop and market new
products particularly in light of rapidly changing fashion trends,
the impact of supply and manufacturing constraints or difficulties
relating to the Company's licensees' dependence on foreign
manufacturers and suppliers, uncertainties relating to customer
plans and commitments, the ability of licensees to successfully
market and sell branded products, competition, uncertainties
relating to economic conditions in the markets in which the Company
operates, the ability to hire and retain key personnel, the ability
to obtain capital if required, the risks of litigation and
regulatory proceedings, the risks of uncertainty of trademark
protection, the uncertainty of marketing and licensing acquired
trademarks and other risks detailed in the Company's filings with
the Securities and Exchange Commission. The words "believe",
"anticipate," "expect", "confident", "will", "project", "provide"
"guidance" and similar expressions identify forward-looking
statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
the statement was made, and the Company undertakes no obligation to
revise or update any forward-looking statements to reflect events
or circumstances that may arise after the date of such
statements.
Contact Information:
Jaime
Sheinheit
Investor Relations
Iconix Brand Group
212.730.0030
SOURCE Iconix Brand Group, Inc.