Guess?, Inc. announced this morning that it closed its $75 million securitization (see ASR 1/27). The 6.75% notes are backed by 12 domestic and two international license agreements. The deal, called Guess? Royalty Finance, was rated ‘Baa2’ and ‘BBB’ by Moody’s Investors Service and Standard & Poor’s, respectively.

The company will use the proceeds to pay down existing its existing 9.5% senior unsecured debt. JPMorgan Securities led the transaction. Guess previously announced an $85 million credit facility with Wachovia Securities that it established in September of 2002. Under the initial terms of the facility, Guess was to have extinguished its senior debt by the end of February, but received a waiver through April 30.

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