GE Capital, Corporate Retail Finance 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 вЂњgood style, good attitude,вЂќ BCBGвЂ™s portfolio of 22 brands includes BCBGMAXAZRIA, Max Azria, HervГ© LГ©ger 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.
вЂњGE delivered the liquidity and flexibility we needed to grow our business,вЂќ said Ben Malka, president, BCBG. вЂњTheir 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.вЂќ
вЂњWe specialize in finding the right solution to meet the specific needs of our retail customers,вЂќ said Jim Hogan managing director of GE Capital, Corporate Retail Finance. вЂњAccess to critical capital, industry expertise and solid underwriting means smarter liquidity for clients."