PNC Bank Provides $400M Credit Facility to Designer Brands, Inc.

Choate represented PNC Bank in its $400,000,000 asset-based revolving credit facility to Designer Brands Inc., one of North America's largest designers, producers and retailers of footwear and accessories. Designer Brands also closed a $250,000,000 senior secured term loan agented by Sixth Street Partners. The proceeds of the ABL facility and the term loan will be used to enhance the Designer Brands’ financial flexibility as it navigates the current complex environment and pursue their long–term business strategy.