The Athletes Foot has successfully completed an investment grade asset-backed securitization transaction with UCC Capital Corporation (UCC), an industry leader in corporate whole company securitization backed by intellectual property. The long-term fixed-rate bonds are backed by franchise revenues, rated B/aa3 by Moodys Investor Service and privately placed.
“This long term financing supports the objectives of The Athletes Foot and I am pleased that the expertise of UCC helped make this happen,” said Robert J. Corliss, president and CEO of The Athletes Foot. “As the worlds first and largest franchisor of athletic footwear stores, we will continue to seek new opportunities to aggressively expand our global network of retail stores. The successful completion of this securitization contributes to a solid foundation for success.”
“This marks our entry into the franchise markets, which is a natural extension of our business in whole company securitization,” said Robert DLoren, president and CEO of UCC Capital. “We are committed to this industry and see diverse opportunities in other branded markets,” adds DLoren.