DURHAM, N.C., July 12, 2016 /PRNewswire/ -- The Guess Corporation will conduct its first private debt offering making high-yield notes available to accredited investors. The debt notes will be issued through its subsidiary, T.G.C. Capital Corporation, a North Carolina captive finance entity. While T.G.C. Capital Corporation will be the legal issuer of the notes, they will be guaranteed and secured against the current and future assets of The Guess Corporation.
The Guess Corporation intends to use T.G.C. Capital Corporation periodically to fund acquisitions, operating expenses and expansions. The notes will be sold directly through T.G.C. Capital Corporation and approved broker-dealers. The term of the notes will be for 12 months and will bear minimum interest of 9% per annum. The offering will always include the option to provide an interest reserve and there will be no prepayment penalty for the notes.
The Guess Corporation is a conglomerate based in Durham, North Carolina and is currently privately-held. The company began as a luxury goods holding company in 2012 with a focus on diamonds. Since that time, the company has expanded to many businesses including art brokerage, lumber brokerage and luxury real estate development and construction. The company has over 80 subsidiaries and employs over 130 employees across the country and it is expected to generate over $250 million in revenue for 2016. Recently, the company announced its plans to develop a multi-billion dollar National Security Park in Greensboro, North Carolina.
This release is not an offer or solicitation for the sale of any securities of The Guess Corporation and or its subsidiary T.G.C. Capital Corporation.
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SOURCE The Guess Corporation