Broder Bros. Receives $100 Million in Senior Secured Debt Financing from Prospect Capital
Broder Bros., the apparel supplier located in Trevose, Pa., announced Wednesday that it has received $100 million in senior secured debt financing from New York-based Prospect Capital Corporation.
The company, which is the largest promotional products supplier according to the 2012 Promo Marketing Top 50 Supplier ranking (PDF), received the loan to support its recapitalization, according to a release from Prospect Capital Corporation. The company also amended its credit agreements with Bank of America and Littlejohn & Co. LLC, Broder Bros.' largest stockholder.
"Prospect impressed us with its diligent and efficient underwriting process, helping to recapitalize Broder to position the company for long-term success," said David Simon, a managing director of Littlejohn & Co. LLC.
Full details of Broder Bros.'s credit agreements are available on the company's corporate website.