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RAPAPORT... Pathlight Capital LLC, a portfolio company of Sycamore Partners, will serve as the administrative and co-collateral agent on a $28 million secured-term loan facility to retailer Birks & Mayors Inc. The loan, which matures in August 2018, amends the company's $18 million term loan and provides additional liquidity for the Canada-based jeweler. The junior capital division of Wells Fargo Capital Finance, part of Wells Fargo & Company, will serve as the co-collateral agent on the facility. "We are excited to be Birks & Mayors' new financial partner. Our creative structure provides additional liquidity to fuel the company's growth initiatives. We are excited to work with the Birks & Mayors management team in growing our relationship," said Daniel Platt, the CEO of Pathlight Capital. Michael Rabinovitch, the chief financial officer for Birks & Mayors, explained that the new agreement improves the retailer's credit structure and will provide greater financial flexibility. ''Pathlight's deep knowledge of the retail and jewelry industries allowed them to quickly deliver a comprehensive financial solution,'' he said.
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