Bank of America Provides Lumber Liquidators ABL
Lumber Liquidators announced it entered into an agreement with Bank of America for a senior secured $100 million asset-based revolving credit facility. The facility amends and restates the company’s existing $50 million revolver.
The asset-based senior secured facility carries a five-year term, is primarily secured by the company’s inventory and generally maintains the interest rates and fees of the company’s existing revolving credit facility. The company intends to continue to use the asset-based senior secured facility to fund operations and anticipated capital expenditures. The company currently has $20 million outstanding under this facility.
Lumber Liquidators is a North American specialty retailer of hardwood flooring.