Destination XL Group announces expanded credit facility

Canton, Mass. --Big & tall men's apparel retailer Destination XL Group announced that it has increased its existing asset-based revolving line of credit with Bank of America, N.A. by $25 million to $125 million.



In addition, the company entered into a new agreement with Wells Fargo Capital Finance for a $15 million five-year senior secured second lien term loan.



"These new financing agreements provide us with additional liquidity and financial flexibility as we execute our plan to complete the conversion to Destination XL by the end of fiscal 2017," said president and CEO David Levin. "This was an opportune time to increase our borrowing capacity on favorable terms."