Fossil Group Inc. Refinances ABL, Announces Debt Exchange Agreement to Support Restructuring

Reuters

Aug 14

Fossil Group Inc. Refinances ABL, Announces Debt Exchange Agreement to Support Restructuring

Fossil Group Inc. has announced a significant development in its restructuring process, with the successful refinancing of its asset-based loan and the execution of a Transaction Support Agreement for a debt exchange. The company secured a $150 million asset-based revolving credit facility maturing in 2030, priced at SOFR plus 500 basis points, with Ares Management Credit funds. Additionally, Fossil has entered into an agreement with major noteholders, HG Vora Capital Management and Nantahala Capital, to exchange its 7.00% Senior Notes due 2026. The exchange offer provides noteholders the opportunity to participate in a new money investment of up to $32.5 million for new 9.5% First-Out Senior Secured Notes due 2029 or new 7.5% Second-Out Senior Secured Notes due 2029. This strategic move aims to strengthen Fossil's financial position and support its future growth.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fossil Group Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9512064-en) on August 13, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Refinances ABL, Announces Debt Exchange Agreement to Support Restructuring\n    \n\n        Fossil Group Inc. has announced a significant development in its restructuring process, with the successful refinancing of its asset-based loan and the execution of a Transaction Support Agreement for a debt exchange. The company secured a $150 million asset-based revolving credit facility maturing in 2030, priced at SOFR plus 500 basis points, with Ares Management Credit funds. Additionally, Fossil has entered into an agreement with major noteholders, HG Vora Capital Management and Nantahala Capital, to exchange its 7.00% Senior Notes due 2026. The exchange offer provides noteholders the opportunity to participate in a new money investment of up to $32.5 million for new 9.5% First-Out Senior Secured Notes due 2029 or new 7.5% Second-Out Senior Secured Notes due 2029. This strategic move aims to strengthen Fossil's financial position and support its future growth.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fossil Group Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9512064-en) on August 13, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}