Item 7.01–Regulation FD Disclosure.
On September 26, 2019 and November 8, 2019, Centric Brands Inc., a Delaware corporation (the “Company”), amended its trade receivables securitization facility (the “Receivables Facility”) by entering into two separate amendments (the “RPA Amendments”) to the Receivables Purchase Agreement (the “RPA”), dated October 29, 2018, among Spring Funding, LLC, as Seller (the “Seller”), the Company, as initial Servicer (the “Servicer”), certain purchasers party thereto, PNC Bank, National Association, as Administrative Agent, (“PNC”) and PNC Capital Markets LLC, as Structuring Agent.
The RPA Amendments added, through joinder, Fifth Third Bank and Wells Fargo Bank, N.A., as purchasers under the RPA with all rights, interests, duties and obligations as contained therein, allowing full utilization of the $600 million available under the Receivables Facility. In addition, since PNC’s commitment, as a purchaser, was reduced to less than $400 million, certain administrative obligations set forth in earlier amendments were eliminated.
The information in this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.