NEW YORK — Candie’s Inc. has a new financing deal in the form of intellectual property securitization, a still relatively underused concept in the fashion industry.
UCC Capital Corp. on Wednesday said it has completed an investment-grade, asset-backed securities transaction for Candie’s. The bonds, based on income stream and backed by Candie’s trademarks and licenses, are rated "Baa3" by Moody’s Investors Service and are self-liquidating over seven years. Proceeds will be used toward paying down debt and for working capital.
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