ValueVision Media announced it increased the size of its credit facility with PNC Bank from $50 million to $75 million. The $25 million credit facility expansion consists of a $10 million increase to the company’s current revolving credit facility from $50 million to $60 million and provides conditions for a $15 million term loan on which ValueVision may draw to support the potential expansion of its Bowling Green, Kentucky distribution center. The credit facility’s maturity date remains May 1, 2018.

The revolving credit component carries the same interest rate as the current credit facility of LIBOR plus 3% per annum. The term loan component when drawn will carry interest at either a rate of LIBOR plus 6% per annum or an alternative base rate plus 5% per annum with the potential for a rate reduction subsequent to January 31, 2015, if the company achieves certain leverage ratios. The credit facility continues to be secured by ValueVision Media’s and its subsidiaries’ accounts receivable, inventory, real estate and other assets.

ValueVision CFO Bill McGrath said, “The $25 million expansion of our credit facility substantially improves our liquidity and better positions us to support future growth. Through the first nine months of fiscal year 2013, our shipped unit volume increased 24% over the prior year. Improvements in our product mix, associated reductions in our average selling price, and most importantly, continued improvements in our customer experience have enabled us to increase our rolling 12-month customer count by 13% to 1.25 million as of November 2, 2013. Investing in our operational infrastructure will further enhance our customer experience and strengthen our foundation for long-term, sustainable growth. The expansion of the PNC credit facility provides great flexibility as we evaluate options for increasing our distribution and fulfillment capacity.”

ValueVision Mediais a multichannel retailer that enables customers to shop and interact via TV, phone, Internet and mobile in the merchandise categories of Home & Consumer Electronics, Beauty, Health & Fitness, Fashion & Accessories, and Jewelry & Watches.