Iconix Brand Group, which recently purchased Umbro International and other companies, has announced a proposed private placement of $325 million worth of convertible senior subordinate notes with selected shareholders. The initial purchaser of the notes will also be granted a 30-day option to acquire an additional $50 million worth of notes. Part of the proceeds would be used to repurchase up to $75 million of the company's common shares, but they may also be used to finance other acquisitions and strategic partnerships. Since last Jan. 2, Iconix has already repurchased about 2.6 million shares worth $62.0 million. The notes are scheduled to mature on March 15, 2018.

Topics