BOSTON–(BUSINESS WIRE)–SLR Credit Solutions (“SLR CS”) announced the closing of a $20,500,000 senior secured term loan in concert with a $20,000,000, revolving line of credit for Oscar de la Renta, LLC (“ODLR or the “Company”). Founded in 1965, ODLR is a designer and retailer of luxury women’s apparel sold through upscale wholesale accounts and direct-to-consumer (“DTC”) both in stores and at www.oscardelarenta.com. In addition to ultra-premium ready-to-wear dresses, bridal, accessories and children’s apparel, the Company also licenses its trademarks for selective categories including eyewear and fragrance.
Proceeds from the transaction were to refinance existing debt and provide for enhanced flexibility.
“Every business including ours had to navigate unprecedented challenges throughout the COVID 19. As our world re-opens, we need partners who can help position our Company for the future,” said Alex Bolen, CEO of ODLR. “SLR CS delivered on the transaction as originally structured and worked collaboratively with our new revolving lender. Their expertise in creating liquidity from the value of our brand was instrumental in completing the financing.”
Mirko Andric, Senior Managing Director of SLR Credit Solutions added, “Alex and his team are consummate professionals and have never waived from delivering the fashion and quality that their luxury customer expects. We are thrilled to be their financing partner and to support their growth.”
About SLR Credit Solutions
SLR Credit Solutions (f/k/a Crystal Financial), a portfolio company of SLR Capital Partners, is a leading provider of direct private credit focused on originating, underwriting, and managing both asset-based and cash flow financings from $20 – $150 million to middle-market companies. Since its inception in 2006, its team of experienced, responsive professionals have provided more than $4 billion in secured debt commitments across a wide range of industries. For more information, please visit www.slrcreditsolutions.com.
About Oscar de la Renta, LLC
Established in New York City in 1965, Oscar de la Renta is one of the world’s leading luxury brands. Built on a foundation of femininity, craftsmanship and timeless elegance Oscar de la Renta’s designs under the leadership of Co-Creative Directors Laura Kim and Fernando Garcia embody a dedication to classic form and structure with an unwavering attention to detail. Oscar de la Renta produces a full line of women’s Ready-to-Wear, Handbags, Shoes Jewelry, Bridal, Eyewear, Childrenswear, Home Décor and Fragrance.
SLR CREDIT SOLUTIONS
Cheryl Carner, Senior Managing Director & Head of Originations
OSCAR DE LA RENTA
Alex Bolen, Chief Executive Officer