Chico's FAS creates $200 million credit facility

Chico's FAS has created a $200 million senior secured credit facility with Wells Fargo and other lenders to support ongoing business operations.

"After an in-depth evaluation, we chose Wells Fargo to lead our new asset-based credit facility, which will offer us greater borrowing flexibility," said Todd Vogensen, EVP and chief financial officer of the company.

"The Wells Fargo team provided us with a creative and cost-effective financing solution, which maximises our liquidity."

Chico's FAS with its brands Chico's, White House Black Market and Soma, is an omni-channel specialty retailer of women's private branded, casual-to-dressy clothing, intimates, and complementary accessories.