Children’s Place draws USD 25 million subordinated term loan from Mithaq Capital SPC
Bitget2026/09/30 20:32- The Children’s Place drew USD 25 million from Mithaq Capital under a Shariah-compliant, unsecured, subordinated Fourth Mithaq Term Loan.
- Funding arrived Sept. 24, 2026 as the second advance under a USD 40 million commitment letter; remaining availability was cut to zero.
- Loan matures April 16, 2031; interest set at one-month SOFR + 9.00%, payable monthly, with optional deferral by notice.
- Proceeds earmarked to repay Wells Fargo revolving credit borrowings, reduce vendor payables, support general corporate purposes.
- Debt ranks behind obligations under the Wells revolving credit facility and the SLR term loan under an existing subordination agreement.
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