Lookin’ Good Enough to Lend to: Salus Provides Frederick’s of Hollywood With $24M

Salus Capital Partners will provide a $24 million senior secured working capital facility to famed lingerie retailer Frederick’s of Hollywood Group Inc. The Massachusetts-based investor does consumer lending and DIP loans.

PRESS RELEASE:

BOSTON, June 2012 – Salus Capital Partners, LLC announced it has provided a $24 million Senior-Secured Working Capital Facility to Frederick’s of Hollywood Group Inc., a specialty retailer of intimate women’s apparel and lingerie. The financing will be used to provide working capital for general corporate purposes.
“Salus showed a genuine interest in developing a credit line for Frederick’s of Hollywood that would replace our existing debt facilities and also support our company’s growth. It is important to have a lender such as Salus that has taken the time to understand our business and growth strategy,” stated Thomas Lynch, the Company’s Chairman and Chief Executive Officer.
“The Frederick’s of Hollywood Credit Facility exemplifies our broad capabilities and entrepreneurial approach to credit risk at Salus,” said Andrew H. Moser, President of Salus Capital. “As a subsidiary of Harbinger Group, Inc., we collaborate as a team, keenly aware of the challenges in today’s credit environment, yet mindful of our experience in supporting iconic consumer brands. We are thrilled to partner with Frederick’s and look forward to a long-standing relationship.”

About Salus Capital Partners, LLC
Salus Capital is a provider of senior secured asset-based loans to the small and middle-market across a variety of industries with additional complementary financing throughout the capital structure. The Salus Capital platform also serves as an asset manager for like minded institutional investors such as community banks, insurance companies and private equity / hedge funds that may lack the infrastructure and dedicated competency within senior secured lending. For additional information about Salus Capital, please visit www.saluscapital.com.