The Athlete's Foot Announces Completion Of Securitization Transaction

ATLANTA, GEORGIA (Tuesday, September 30, 2003) - The Athlete's Foot has successfully completed an investment grade asset-backed securitization transaction with UCC Capital Corporation (UCC), an industry leader in corporate whole company securitization backed by intellectual property. The long-term fixed-rate bonds are backed by franchise revenues, rated B/aa3 by Moody's Investor Service and privately placed.

"This long term financing supports the objectives of The Athlete's Foot and I am pleased that the expertise of UCC helped make this happen," said Robert J. Corliss, president and CEO of The Athlete's Foot. "As the world's first and largest franchisor of athletic footwear stores, we will continue to seek new opportunities to aggressively expand our global network of retail stores. The successful completion of this securitization contributes to a solid foundation for success."

"This marks our entry into the franchise markets, which is a natural extension of our business in whole company securitization," said Robert D'Loren, president and CEO of UCC Capital. "We are committed to this industry and see diverse opportunities in other branded markets," adds D'Loren.

The Athlete's Foot is privately owned, headquartered in Kennesaw, Georgia, and is recognized as the world's leader in athletic footwear franchising. With three solid decades of experience, the company has developed an award-winning franchise support system. In addition to its successful franchise operations, The Athlete's Foot develops a variety of corporate store concepts for major malls, power centers and main street shopping districts. The company network includes more than 700 stores in over 40 countries.

View all Athlete's Foot Press Releases

This article has been read 386 times.

Printer Friendly