BOSTON, December 2, 2020 / PRNewswire / – Pathlight Capital LP and HBC Completed $ 150,000,000 Senior secured term loan facility for the company, of which Pathlight acts as administrative agent. HBC is a holding company of portfolio companies operating at the intersection of retail and real estate, including a real estate and investments division, HBC Properties and Investments, and three retailers, Saks Fifth Avenue , Hudson’s Bay and Saks OFF 5TH.

The term loan, which was concluded and financed on November 25, 2020, provide additional support for growth initiatives and general working capital needs.

Michel Culhane, HBC CFO said, “Throughout the pandemic, we have taken steps to carefully manage our cash flow and expenses to support and ensure our businesses can thrive beyond the crisis. The capital generated by this facility, along with our liquidity, offers even greater financial flexibility. In addition, this transaction underlines the value of our real estate assets and the significant potential found within each of our portfolio companies. We are delighted to have worked with Pathlight to make this easy. “

Mark Twomey, Managing Director of Pathlight Capital commented, “I have followed HBC and its iconic retail companies throughout my career. . We are proud to help support the leadership team’s continued efforts to better position HBC for the future.

About Pathlight Capital
Pathlight Capital is a private credit investment manager dedicated to serving the needs of companies operating in a wide range of industries by providing secured asset loans on a first or second lien basis against tangible and intangible assets. Pathlight provides creative financing solutions to enable management teams to access additional liquidity for working capital financing, debt refinancing, growth, acquisitions, dividends and turnaround strategies . For more information, please visit www.pathlightcapital.com.

About HBC
HBC is a holding company of portfolio companies operating at the intersection of retail and real estate. A long-term investor in iconic companies, HBC’s valuable assets span major markets and prime locations across North America.

Among the companies in HBC’s portfolio are three distinguished retailers: Saks Fifth Avenue, a leading luxury retailer, Hudson’s Bay, from Canada preeminent multi-category retailer, and Saks OFF 5TH, a leading discount retailer.

HBC owns or controls, wholly or with joint venture partners, approximately 40 million square feet of gross leasable area. HBC Properties and Investments, the company’s real estate portfolio and investment business, manages these assets as well as other real estate offerings, including Streetworks Development, its real estate development division.

Founded in 1670, HBC is North America the oldest continuously operating company headquartered Toronto and new York. For more information visit: www.hbc.com.

Media contacts:

Capital of lighthouses
Mark Twomey
[email protected]

HBC
Nicole schönberg
[email protected]

SOURCE Capital Nightlight

Related links

http://www.pathlightcapital.com