Pathlight Capital announced it is serving as the ABL Term Loan Agent on the recently funded $35 million last-out first lien ABL Term Loan facility to Pier 1 Imports, Inc., a specialty retailer of home décor and accessories.

The $35 million term loan, which was completed and funded on December 14, 2018, is expected to provide incremental liquidity as the Company continues to implement its “New Day” strategic plan.

“We are pleased to have successfully completed this refinancing with Pathlight Capital,” said Nancy Walsh, Executive Vice President and CFO of Pier 1. “We greatly appreciate the support of Pier 1’s lenders and stakeholders as we continue to focus on our initiatives to drive growth and deliver long-term shareholder value.”

“Pier 1 is one of the most recognizable brands in U.S. retail,” said Daniel Platt, Chief Executive Officer of Pathlight. “We are proud to provide the support and liquidity to fund the company’s strategic plan to build upon 50 plus years as a market leader in home décor.”