US company Pathlight Capital recently announced it is serving as the first-in last-out (FILO) agent on the recently-funded $17.5-million FILO term loan facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. In addition to DXL Big + Tall, the later also operates Casual Male XL retail and outlet stores and e-commerce sites including DXL.com.
The $17.5 million FILO, which matures on March 16, 2026, will be used to refinance certain existing indebtedness as well as provide additional liquidity for ongoing working capital needs.Pathlight Capital is serving as the first-in last-out (FILO) agent on the recently-funded $17.5-million FILO term-loan facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. In addition to DXL Big + Tall, the later also operates Casual Male XL retail and outlet stores and e-commerce sites including DXL.com.#
"Over the past year, we have repositioned our business to emerge from the pandemic with a lighter cost structure and significantly more operating leverage," said Peter Stratton, chief financial officer of DXL in a press release.
Pathlight Capital is a private credit investment manager dedicated to meeting the needs of companies that operate across a broad range of industries by providing asset-based loans secured on a first or second lien basis against tangible and intangible assets.
Destination XL Group is the largest retailer of men's clothing in sizes XL and up, with operations throughout the United States as well as in Toronto, Canada.
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