A.K.A. Brands Refinances $120m Facility
A.K.A. Brands, the parent company of Culture Kings, has refinanced its $120 million facility, according to a report by Ragtrader.
The company's CFO, Kevin Grant, stated that the new facility will support the company's next phase. The refinanced facility includes an $85 million term loan and a $35 million revolving credit capacity, replacing the existing facility and extending debt maturity to 2028.
The new facility bears interest at the Secured Overnight Financing Rate (SOFR) plus 3.25% to 3.75% per annum, based on the company's debt-to-adjusted EBITDA ratio.
- Adjusted EBITDA for the second quarter of 2025: $7.5 million
- Adjusted EBITDA for the second quarter of 2024: $8 million
- Adjusted EBITDA for 2024: $23.3 million (4.1% of net sales)
- Adjusted EBITDA for 2023: $13.8 million (2.5% of net sales)
The new facility will support the company's next phase, according to Kevin Grant.
Author's summary: A.K.A. Brands refinances $120m facility to support growth.