Joe Boxer announces I.P. ABS

Joe Boxerannounced the completion of a $45 million intellectual property securitization, backed by licensing royalties paid by Sears Holdings Corp., the exclusive retail distributor for Joe Boxer men's apparel. Proceeds will be used to help fund the $80 million corporate acquisition of Joe Boxer by the Iconix Brand Group, which owns women's apparel maker Candie's. The transaction is actually a reopening of the outstanding Candie's royalty I.P. deal. The single-tranche deal, with a seven-year final maturity, was led by UCC Capital Corp., which also served as advisor on the Joe Boxer acquisition.