Goldman Sachs, Others Increase Bluestem Brands Credit Facility
Bluestem Brands, Inc. announced that it has completed an amendment to its existing accounts receivable revolving credit facility. The amended agreement increases the maximum revolving borrowing capacity by $50 million from $290 million to $340 million. The credit facility is scheduled to mature in August 2013.
Goldman Sachs Bank USA and J.P. Morgan Securities serve as joint lead arrangers and joint bookrunners and Goldman Sachs Bank USA, JPMorgan Chase Bank, Deutsche Bank AG New York, The Royal Bank of Scotland PLC and PNC Bank as participant lenders.
Mark Wagener, executive vice president and CFO, stated, “The upsized credit facility provides additional liquidity for the upcoming holiday season. We are thankful for the support our lenders have shown by increasing their commitments under the existing credit facility.”
Bluestem Brands, Inc. is a multi-brand, multi-channel retailer of a broad selection of name brand and private label general merchandise servicing low to middle income consumers nationwide.