NORWALK, Conn.--Thursday, September 24, 2009-- GE Capital, Corporate Retail Finance today announced it acted as co-collateral agent for a $403 million asset-based credit facility to BCBG Max Azria Group, a leading designer, retailer and distributor of women's apparel and accessories. The loan will be used for working capital needs. The facility may be increased up to $450 million if certain conditions are met.
Designer-businessman Max Azria formed Vernon, CA-based BCBG in 1989, and now has more than 13,500 retail and wholesale points of sale worldwide. Named for the French phrase "bon chic, bon genre," Parisian slang meaning "good style, good attitude," BCBG's portfolio of 22 brands includes BCBGMAXAZRIA, Max Azria, Hervé Léger by Max Azria, BCBGeneration and Max and Cleo. Wholesalers include Bergdorf Goodman, Saks Fifth Avenue, Bloomingdale's, Nordstrom, Lord & Taylor, Holt Renfrew, Harrods, Selfridges, Harvey Nichols, Le Printemps, Lane Crawford and NET-A-PORTER.
"GE delivered the liquidity and flexibility we needed to grow our business," said Ben Malka, president, BCBG. "Their in-depth knowledge of the retail sector and loan structuring expertise helped provide us the means to expand our new Miley&Max line for Wal-Mart."
"We specialize in finding the right solution to meet the specific needs of our retail customers," said Jim Hogan managing director of GE Capital, Corporate Retail Finance. "Access to critical capital, industry expertise and solid underwriting means smarter liquidity for clients."
About GE Capital, Corporate Retail Finance
GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. Visit gelending.com/clnews.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at ge.com.
Ned Reynolds
GE Capital
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+1 203 2295717
+1 203 8370699
Jeff Wilson
GE Capital Corporate Finance
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1-203-749-6340