Fossil Group Secures Refinancing Deal with Noteholders
Deal News | Aug 15, 2025 | Ropes & Gray
Ropes & Gray has advised HG Vora Capital Management and Nantahala Capital in a significant refinancing transaction involving Fossil Group. The agreement includes a transaction support agreement and an exchange offer for new senior secured notes, due in 2029, along with related warrants and equity considerations. The noteholders collectively hold 59% of Fossil Group's outstanding senior notes due in 2026. HG Vora is known for investing in performing credit and special situations, while Nantahala focuses on small and micro-cap stocks. This deal represents a strategic financial restructuring for Fossil Group.
Sectors
- Financial Services
- Retail
Geography
- United States – Fossil Group is a US-based company, and the key participants, including HG Vora and Nantahala Capital, are likely based in the United States.
Industry
- Financial Services – The article pertains to financial restructuring and refinancing, involving capital management firms and investment strategies.
- Retail – Fossil Group, the target company in the article, operates in the retail sector, specifically in the watch and accessory retail sub-sector.
Financials
- 59% – HG Vora and Nantahala Capital collectively hold approximately 59% of Fossil Group's outstanding 7.00% senior notes due 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ropes & Gray | Legal Advisor | Company | Ropes & Gray is a renowned international law firm advising on the refinancing transaction for Fossil Group. |
| Fossil Group | Target | Company | Fossil Group is a company that designs, manufactures, and distributes consumer fashion accessories. |
| HG Vora Capital Management | Noteholder | Company | HG Vora is an investment management firm focused on credit and value-oriented equity investments. |
| Nantahala Capital | Noteholder | Company | Nantahala Capital is an investment firm investing primarily in small and micro-cap stocks. |