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David’s Bridal, a Conshohocken, Pa.-based bridal and special occasion company, closed a $70m term loan provided by CPPIB Credit Investments Inc., a subsidiary of Canada Pension Plan Investment Board.
The new term loan matures in 2024 and will be used by the company to fund operations and for general corporate purposes.
As of closing on April 30, 2021, David’s Bridal had total unrestricted cash of $63m and zero borrowings on its $125m Revolving Credit Facility.
Led by Chief Executive Officer Jim Marcum, David’s Bridal is dedicated to providing customers with the assistance of online planning tools, knowledgeable stylists, and expert tailors who will guide them through the entire purchasing journey. The company has more than 300 stores located across the US, Canada, UK, and franchise locations in Mexico.
David s Bridal Closes New $70 million Capital Investment From CPP Investments
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CONSHOHOCKEN, Pa., May 3, 2021 /PRNewswire/ David s Bridal, LLC (the Company ), the nation s leading bridal and special occasion authority, announced today the closing of a $70 million term loan provided by CPPIB Credit Investments Inc., a subsidiary of Canada Pension Plan Investment Board ( CPP Investments ). The new term loan matures in 2024 and will be used by the Company to fund operations and for general corporate purposes.
As of closing on April 30, 2021, the Company had total unrestricted cash of $63 million and zero borrowings on its $125 million Revolving Credit Facility.