Wells Fargo served as administrative agent on a new $450 million asset-based revolver and a $109.3 million term loan for Vista Outdoor. GACP Finance also agented a $40 million junior term loan for the company.
Sears Canada has been granted an order from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act. Wells Fargo Capital Finance, as agent on behalf of ABL lenders, and GACP Finance, as agent on behalf of term loan lenders, will provide C$450 million ($340 million) DIP financing.
Reuters reported that retailer Sears Holdings expressed doubts that it can continue as a going concern in its annual report.
Hancock Fabrics filed for reorganization under chapter 11. The retailer is seeking court approval of up to $100 million in DIP financing consisting of a $80 million revolver and a $183 million term loan agented by Wells Fargo and GACP Finance, respectively.