PNC does not charge a fee for Mobile Banking. However, third party message and data rates may apply. These include fees your wireless carrier may charge you for data usage and text messaging services. Check with your wireless carrier for details regarding your specific wireless plan and any data usage or text messaging charges that may apply. Also, a supported mobile device is needed to use the Mobile Banking App. Mobile Deposit is a feature of PNC Mobile Banking. Use of the Mobile Deposit feature requires a supported camera-equipped device and you must download a PNC mobile banking app. Eligible PNC Bank account and PNC Bank Online Banking required. Certain other restrictions apply. See the mobile banking terms and conditions in the Digital Services Agreement.
PITTSBURGH, Sept. 17, 2018 – PNC Bank, National Association, announced today the closing of a $106.5 million senior secured facility for R.G. Barry Corporation. A fund managed by GSO Capital Partners LP participated as an anchor investor for a portion of the unitranche facility. PNC Bank served as administrative agent.
This transaction represents one of the first in a series of flexible capital solutions stemming from an arrangement between PNC Business Credit and GSO.
“R.G. Barry is a longtime client of PNC Business Credit and we are pleased to provide a flexible capital solution that meets their financial requirements with minimal administrative burden,” said Tom Lorenz, senior vice president and business development officer, PNC Business Credit.
The unique structure of this transaction provides a unified private lender solution to middle market borrowers.
“The PNC GSO Unitranche provides a creative financing solution for larger, more complex transactions, offering speed, confidence of execution, flexibility and scalability,” said Walt Hill, senior vice president, Unitranche Originations.
R.G. Barry will use the funds to refinance existing senior bank debt, partially fund capital expenditures and permitted acquisitions and provide for ongoing working capital needs and general corporate purposes. Treasury management and derivative products and services also were included in this transaction.
Headquartered in Pickerington, Ohio, R.G. Barry was founded in 1947 and is a family of female-founded brands – Dearfoams, Baggallini and Foot Petals – that is passionate about crafting products to make life easier, more comfortable, and more stylish.
To learn more about financial services offered, visit PNC Business Credit.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
CONTACT:
Rob Tacey
(302) 429-2743
robert.tacey@pnc.com
