Apparel brand Guess Inc expands European revolving credit facility

Apparel brand Guess Inc expands European revolving credit facility

Fashion



Apparel brand Guess Inc expands European revolving credit facility

Guess?, Inc. (NYSE: GES) today announced the successful expansion of the borrowing capacity under its existing European revolving credit facility from €250 million (~$272 million)to €350 million (~$381). The facility, maintained through the Company’s wholly-owned Swiss subsidiary, Guess Europe Sagl, has a remaining term of roughly three years.

In line with the Company’s focus on sustainability, the interest rate for the facility continues to be subject to an annual adjustment based on the achievement of specific sustainability goals aimed at reducing greenhouse gas emissions, increasing the use of sustainably sourced materials and increasing the penetration of the Company’s Guess ECO products.

Guess has expanded its European revolving credit facility from €250 million (~$272 million) to €350 million (~$381 million) through its Swiss subsidiary Guess Europe Sagl.
The facility, with a term of about three years, has an interest rate tied to sustainability goals.
CEO Carlos Alberini highlighted lender confidence and the importance of Europe in their strategy.

Carlos Alberini, Chief Executive Officer of Guess?, Inc., commented, “The expansion of our European credit facility reflects the confidence of our lenders in our strategy and the importance of the European region to our overall Company. The expanded credit facility will provide incremental access to longer-term capital while continuing to align financial incentives with our sustainability goals.”

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (RM)




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