Pathlight Capital and HBC announce US$150 million term loan facility

December 2, 2020

On December 2, 2020, Pathlight Capital LP (“Pathlight Capital”) and the Hudson’s Bay Company (“HBC”) announced the completion of a US $150,000,000 Senior Secured Term Loan Facility for HBC, of which Pathlight serves as the administrative agent. HBC is a holding company of portfolio businesses operating at the intersection of retail and real estate, including a real estate and investments division, HBC Properties and Investments, and three retailers, Saks Fifth Avenue, Hudson’s Bay and Saks OFF 5TH.

Pathlight Capital is an American 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.

Miller Thomson advised Pathlight Capital as Canadian counsel with a team led by Ken Rosenstein (Financial Services), and comprising of Rebecca Jennings and Julie St-Hilaire (Financial Services).