By  on February 12, 2018

Iconix Brand Group has reached an agreement with certain convertible bond-holders to convert $110 million in notes to new senior subordinated debt.

The notes to be exchanged were the company’s 1.5 percent convertible notes due March 2018. Following the exchange, the holders will carry new senior subordinated convertible notes, with an interest rate of 5.75 percent and a maturity date of August 2023. The holders of the $110 million in notes slated for conversion will also receive cash payments representing accrued, but unpaid, interest on the 2018 convertible notes.

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