Playboy Refinances to Aid Growth

Playboy Enterprises has completed several financing initiatives designed to enhance its flexibility to execute on its licensing and media growth strategies.

Since the end of 2013, these activities have included a $35 million reduction in debt and, most recently, the introduction of a new $150 million term loan that replaces its former debt financing and complements the company's ongoing repositioning into a lifestyle brand with a lean, efficient operating structure.

"By further improving our capital structure with lower cost funding that improves our investment flexibility, Playboy is better positioned to leverage its reinvigorated brand to drive growth in revenue and cash flows through attractive opportunities in global licensing and content, including digital media,” says Scott Flanders, chief executive officer, Playboy.