Latest news with #3GCapital
Bloomberg
7 hours ago
- Business
- Bloomberg
Mark Walter Is Creating a Sports Empire With $10 Billion Lakers
For just under $10 billion, private equity firm 3G Capital recently bought Skechers — an ascendant global footwear brand with $9 billion in annual sales and 20,000 employees spread across 5,300 stores. For the same sum, you could now buy the Los Angeles Lakers — a basketball team that generates an estimated $500 million a year, employs 1,000 people, and sells little more than TV rights, tickets, and dreams — plus a century of star-studded mystique.
Fashion Network
5 days ago
- Business
- Fashion Network
JPMorgan readies $6.5 billion Skechers debt sale for next week
JPMorgan Chase & Co. plans to kick off a $6.5 billion debt offering to support private equity firm 3G Capital's purchase of footwear maker Skechers as soon as next week, according to a person with knowledge of the matter. The financing is expected to include $4 billion of secured debt and $2.5 billion of unsecured debt, the latter of which would allow for a 'payment-in-kind' feature with a toggle option, Bloomberg previously reported. The PIK component means the borrower can choose whether to pay interest in cash or by issuing more debt. It's not clear if next week's offering will include all or some of that debt package, said the person, who was not authorized to discuss the transaction publicly. A JPMorgan representative declined to comment. Representatives for 3G Capital and Skechers didn't immediately respond to requests for comment. Risky debt offerings have rebounded in the past few weeks as markets stabilized from tariff-induced volatility. Deals that have launched have been mostly well-received by investors. The Skechers deal had been expected to launch after the May 26 Memorial Day holiday. 3G Capital expects its $9.4 billion Skechers buyout, which also includes an equity component, to close during the third quarter, according to a company statement. Founded in the early 1990s and based in Manhattan Beach, California, Skechers is now the third-largest global sports footwear retailer. It has nearly doubled revenue over the past five years, and is on the path to reach $10 billion in sales by 2026, according to Abigail Gilmartin, Bloomberg Intelligence's retail analyst, in a report last month.
Fashion Network
5 days ago
- Business
- Fashion Network
JPMorgan readies $6.5 billion Skechers debt sale for next week
JPMorgan Chase & Co. plans to kick off a $6.5 billion debt offering to support private equity firm 3G Capital's purchase of footwear maker Skechers as soon as next week, according to a person with knowledge of the matter. The financing is expected to include $4 billion of secured debt and $2.5 billion of unsecured debt, the latter of which would allow for a 'payment-in-kind' feature with a toggle option, Bloomberg previously reported. The PIK component means the borrower can choose whether to pay interest in cash or by issuing more debt. It's not clear if next week's offering will include all or some of that debt package, said the person, who was not authorized to discuss the transaction publicly. A JPMorgan representative declined to comment. Representatives for 3G Capital and Skechers didn't immediately respond to requests for comment. Risky debt offerings have rebounded in the past few weeks as markets stabilized from tariff-induced volatility. Deals that have launched have been mostly well-received by investors. The Skechers deal had been expected to launch after the May 26 Memorial Day holiday. 3G Capital expects its $9.4 billion Skechers buyout, which also includes an equity component, to close during the third quarter, according to a company statement. Founded in the early 1990s and based in Manhattan Beach, California, Skechers is now the third-largest global sports footwear retailer. It has nearly doubled revenue over the past five years, and is on the path to reach $10 billion in sales by 2026, according to Abigail Gilmartin, Bloomberg Intelligence's retail analyst, in a report last month.
Fashion Network
5 days ago
- Business
- Fashion Network
JPMorgan readies $6.5 billion Skechers debt sale for next week
JPMorgan Chase & Co. plans to kick off a $6.5 billion debt offering to support private equity firm 3G Capital's purchase of footwear maker Skechers as soon as next week, according to a person with knowledge of the matter. The financing is expected to include $4 billion of secured debt and $2.5 billion of unsecured debt, the latter of which would allow for a 'payment-in-kind' feature with a toggle option, Bloomberg previously reported. The PIK component means the borrower can choose whether to pay interest in cash or by issuing more debt. It's not clear if next week's offering will include all or some of that debt package, said the person, who was not authorized to discuss the transaction publicly. A JPMorgan representative declined to comment. Representatives for 3G Capital and Skechers didn't immediately respond to requests for comment. Risky debt offerings have rebounded in the past few weeks as markets stabilized from tariff-induced volatility. Deals that have launched have been mostly well-received by investors. The Skechers deal had been expected to launch after the May 26 Memorial Day holiday. 3G Capital expects its $9.4 billion Skechers buyout, which also includes an equity component, to close during the third quarter, according to a company statement. Founded in the early 1990s and based in Manhattan Beach, California, Skechers is now the third-largest global sports footwear retailer. It has nearly doubled revenue over the past five years, and is on the path to reach $10 billion in sales by 2026, according to Abigail Gilmartin, Bloomberg Intelligence's retail analyst, in a report last month.
Fashion Network
5 days ago
- Business
- Fashion Network
JPMorgan readies $6.5 billion Skechers debt sale for next week
JPMorgan Chase & Co. plans to kick off a $6.5 billion debt offering to support private equity firm 3G Capital's purchase of footwear maker Skechers as soon as next week, according to a person with knowledge of the matter. The financing is expected to include $4 billion of secured debt and $2.5 billion of unsecured debt, the latter of which would allow for a 'payment-in-kind' feature with a toggle option, Bloomberg previously reported. The PIK component means the borrower can choose whether to pay interest in cash or by issuing more debt. It's not clear if next week's offering will include all or some of that debt package, said the person, who was not authorized to discuss the transaction publicly. A JPMorgan representative declined to comment. Representatives for 3G Capital and Skechers didn't immediately respond to requests for comment. Risky debt offerings have rebounded in the past few weeks as markets stabilized from tariff-induced volatility. Deals that have launched have been mostly well-received by investors. The Skechers deal had been expected to launch after the May 26 Memorial Day holiday. 3G Capital expects its $9.4 billion Skechers buyout, which also includes an equity component, to close during the third quarter, according to a company statement. Founded in the early 1990s and based in Manhattan Beach, California, Skechers is now the third-largest global sports footwear retailer. It has nearly doubled revenue over the past five years, and is on the path to reach $10 billion in sales by 2026, according to Abigail Gilmartin, Bloomberg Intelligence's retail analyst, in a report last month.
