SLR Credit Solutions Agents Term Loan for The Children’s Place

BOSTON--(BUSINESS WIRE)--SLR Credit Solutions (“SLR CS”) announced the closing of a $100 million senior secured term loan for The Children’s Place (the “Company”) (NASDAQ: PLCE), one of the only pure-play children’s specialty apparel retailers in North America. The term loan was made in concert with a $350 million revolving line of credit from Wells Fargo. The transaction further strengthens the Company’s liquidity position and supports its long-term strategic priorities.

Proceeds from the transaction were used to repay borrowings under the Company’s revolving credit facility and provide liquidity to support future growth.

“This financing marks an important milestone in our ongoing efforts to strengthen our balance sheet and position the Company for sustainable growth,” said John Szczpanski, CFO of The Children’s Place. “SLR Credit Solutions understands the complexities of our business and was a great financing partner back in 2020. We look forward to resuming the relationship.”

Erica Galano, a Principal at SLR Capital Partners, commented, “We are excited to once again support The Children’s Place through this financing. The Company’s iconic brands, strong market position, and clear strategic plan give us confidence in its long-term prospects.”

About The Children’s Place

The Children’s Place is one of the only pure-play children’s specialty retailers in North America with an omni-channel portfolio of brands and an industry-leading digital-first model. Its global retail and wholesale network includes two digital storefronts, 499 stores in North America, wholesale marketplaces and distribution in 12 countries through nine international franchise and wholesale partners. The Children’s Place designs, contracts to manufacture, and sells fashionable, high-quality, head-to-toe outfits predominantly at value prices, primarily under its proprietary brands: “The Children’s Place”, “Gymboree”, “Sugar & Jade”, and “PJ Place”. For more information, visit www.childrensplace.com and www.gymboree.com.

About SLR Credit Solutions

SLR Credit Solutions, a portfolio company of SLR Investment Corp., is a leading provider of direct private credit focused on originating, underwriting, and managing asset-based financings from $25 - $350 million to middle-market companies. For more information, please visit www.slrcreditsolutions.com.