Wells Fargo Capital Finance Agents Stage Stores Amendment
Stage Stores announced it has entered into an amended and restated $350 million senior secured revolving credit facility that will mature on October 06, 2019.
The company said Wells Fargo Capital Finance is the administrative and collateral agent, JPMorgan Chase and Regions Bank are the co-documentation agents,
Bank of America is the syndication agent, and Wells Fargo Capital Finance, Merrill Lynch, JPMorgan Chase and Regions Bank are the joint lead arrangers and joint bookrunning managers. The lenders are Wells Fargo Capital Finance, JPMorgan Chase, Regions Bank and Bank of America.
The credit facility replaces the company’s former $250 million senior secured revolving credit facility, which was set to mature on June 30, 2016. The credit facility (i) increases availability to $300 million, with a seasonal increase to $350 million, (ii) provides better pricing terms, and (iii) extends the maturity date.
Houston-based Stage Stores operates primarily in small and mid-sized towns and communities. Its stores, which operate under the Bealls, Goody’s, Palais Royal, Peebles and Stage trademarks, offer moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family. The company currently operates 852 stores in 40 states.