BofA Agents Revolver Expansion for Restoration Hardware
Restoration Hardware Holdings announced the amendment and expansion of the company’s existing senior secured revolving credit facility to $600 million with a maturity in November 2019. This facility replaces the company’s $417.5 million revolving credit facility that was scheduled to mature in August 2016. The company’s revolving credit facility is currently undrawn.
According to a related 8-K filing, the lending group was led by Bank of America as administrative agent and collateral agent.
Under the amended $600 million facility, the interest rate spread over the LIBOR base rate was reduced by 50 basis points to a range of 1.25% to 1.75%, based on availability under the facility. The amended facility also includes an accordion feature to increase the facility size up to $800 million.