Daily News: August 15, 2013

BofA Merrill Increases Sport Chalet Facility to $75MM

Specialty sporting goods retailer Sport Chalet announced that it has amended its existing credit facility with Bank of America Merrill Lynch, increasing the facility to $75 million and extending its term.

The amendment to the credit facility was entered into on August 8, 2013, and will mature in August 2018. It replaces the company’s existing $65 million facility, which was scheduled to mature in October 2014.

The expanded facility will continue to be used to finance inventory and other working capital requirements as well as capital expenditures in support of the company’s growth plans.

Jeff McLane, president of Bank of America Business Capital, said, “Bank of America Merrill Lynch and Sport Chalet have had a strong relationship for many years, and we are pleased to maintain that commitment as Sport Chalet continues to grow. This increased credit facility is a great example of how Bank of America Merrill Lynch is focused on helping leading companies meet their financial goals.”

Los Angeles, CA-based Sport Chalet is a full service specialty sporting goods retailer featuring the industry’s top sports brands in apparel, footwear and sports equipment.