Home > News > Playboy Secures $185 Million Expansion Loan • Bookmark   • Newsletters   • Register Search Options


Playboy Secures $185 Million Expansion Loan

Playboy Secures $185 Million Expansion Loan
Get XBIZ News
XBIZ Research
Will virtual reality boost the paysite market?
Yes, it will soon
Yes, but in a few years
Out of 179 votes. Results based on votes submitted by members of XBIZ.net social network.
Apr 22, 2013 7:15 AM PDT    Text size: 

LOS ANGELES — Continuing to bolster its stance as a branding powerhouse, Playboy Enterprises announced today that it has raised additional capital to further the company’s growth.

The company closed on a $185 million term loan and $10 million in revolving credit.

Playboy said the financing is designed to support its expansion after going private in March 2011 and the subsequent restructuring and transition of the company's business.

Jefferies LLC managed the financing that was upsized from a planned $175 million based on lender demand.

"We believe this new financing underscores investor confidence in our progress as we transform Playboy into a global lifestyle brand licensing company," CEO Scott Flanders, said.

He added, "The new facility strengthens our capital structure, adds to our working capital and enhances our flexibility to execute on our strategic plan. We greatly appreciate the support of our new lending group, including the significant number of original lenders who are participating in this facility. I also want to thank Jefferies for their outstanding work in completing this transaction."

In a recent corporate memo, Flanders said the company is in year one of a three year brand rivitalization, particulalry in North America,

"There's no question that we know more today than a year ago and we are constantly recalibrating our approach to reflect those learnings. That's not only a good thing;  it's a deliberate thing. We are — and always will be — a learning organization. A such, we will constantly evolve our thinking, refine our plans and adapt our apporach to the situation and the circumstances.  But, we need to do this in a way that is consistent with a clear and articulated strategy and vision," Flanders said.



More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !


‘Alternative Facts’ of PC vs. Mac Users

Now that we live in a world of “alternative facts” it feels like somehow everyone has become a little more critical about what information and data they are digesting, and where it came from. Don’t... More »

Putting a Dollar Figure on Your Website's Worth

Daily, I get asked the question, “what’s my website worth.” And it’s the hardest question for me to answer. Someone will go to my website and fill out the contact form, put in... More »

New Solutions Require a Bullheadedness, Different Process

Each January we lead a small group of industry leaders on a tour of the crazy innovations at the Consumer Electronic Show in Las Vegas. It’s a grind on our bodies. We all train for it beforehand.... More »
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.

Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ Premiere magazine, the industry's leading adult retail trade publications, delivering the most timely and comprehensive business news and information to producers and retailers of adult products.



Mar 31 - Apr 02
Denver, CO.

Eurowebtainment 2017

May 17 - May 20
Majorca, Spain

XBIZ Retreat

May 30 - Jun 03
Miami, Florida

XBIZ Miami 2017

May 30 - Jun 02
Miami, Florida
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!