Iconix Brand Group Inc. says it’s reviewing all options to address debt that’s coming due, including a new securitization facility, and plans to talk to its investors in the coming quarters.
On a conference call to discuss second quarter results, interim Chief Executive Officer Peter Cuneo said Iconix is working with Guggenheim as a financial adviser to review its financing options for near-term debt maturities.
Iconix’s second-lien convertible bonds last traded at 64.7 cents on the dollar July 25, according to Trace bond trading data, down from 71 on June 14. The company had $95.6 million of cash on hand at the end of the quarter, $55.8 million of which was in the U.S. and unrestricted, management said.
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