Gordon Brothers agented a $200 million delayed draw term loan for Big Lots Inc.
 
The U.S. home discount retailer of general merchandise will use the loan’s delayed draw feature to execute on strategic initiatives with the remaining amount to draw upon for available working capital and flexibility as needed.
 
“Having established a working relationship with Big Lots over the last few years, we combined our flexible financial structure with our full suite of holistic services for a complete solutions-driven package,” said Kyle C. Shonak, Senior Managing Director, Transaction Team & Head of North America Lending at Gordon Brothers. “We provide the capital and solutions to unlock the future and enable businesses to execute on their short- and long-term strategy.”
 
"The financing gives us additional flexibility as we continue our turnaround strategy and focus on delivering extreme bargains and unmistakable value to our customers,” said Jonathan Ramsden, Executive Vice President and Chief Financial and Administrative Officer at Big Lots.