Specialty Catalog Corp. Inks $12.5M Credit Deal With Fleet

Share this article:
Specialty Catalog Corp. has entered into a five-year credit agreement with Fleet National Bank for $12.5 million, the company announced this week.


The agreement price could increase to $13 million in 2002 if the cataloger continues to perform well, said Tom McCain, chief financial officer at Specialty Catalog Corp., South Easton, MS.


The agreement includes a $3.25 million two-year revolving credit, which would increase as principal payments on the note are paid. The agreement also includes a $9 million five-year term note.


"What this [agreement] does is put us in a firm financial position and allows flexibility to operate and to grow our business," McCain said.


Specialty Catalog Corp. is a direct marketer that sells primarily women's wigs and hairpieces through its catalogs, Paula Young and Especially Yours. The company was created in 1978 and circulates 25 million catalogs a year between the two titles.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.