GB Credit Partners Participates in Financing to Shopko
Boston, MA - GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced today that it has participated in providing Shopko Stores Operating Co., LLC with a $12.5 million increase to the Company’s existing term loan. The financing provided by GB Credit Partners is secured by Shopko’s inventory, accounts receivable and real estate.
This transaction draws from GB Credit Partners’ extensive experience in the retail sector. GB Credit Partners has also recently executed transactions in the aerospace, energy, mining and jewelry industries.
Shopko is a discount department store retailer with over 330 stores throughout the western and central United States. The company operates under the Shopko, Shopko Hometown, Shopko Express Rx and Shopko Pharmacy banners offering name-brand merchandise as well as pharmacy and optical services to small and mid-sized communities.
About GB Credit Partners
GB Credit Partners (www.gbcredit.com), the investment management affiliate of Gordon Brothers Group, originates, structures and invests in private market debt in North America and Europe. Debt investments are made in the form of senior, unitranche, second lien or mezzanine loans ranging from $10 to $50 million to middle-market companies in need of capital to effect strategic change. Investments are made across 25 industries within five major sectors: consumer, commercial & industrial, financial services, intellectual property and real estate.