Barnes & Noble entered into a first amendment to its 2015 credit agreement. According to a related 8-K filing, Bank of America acted as administrative agent, collateral agent and swing line lender.

The first amendment provided Barnes & Noble with a new “first-in, last-out” revolving credit facility of up to $50 million, subject to borrowing base restrictions, which supplements an existing $700 million revolving credit facility.

Under the amendment, Barnes & Noble is able to request up to $250 million in commitment increases from the lenders under the credit agreement, subject to certain restrictions.

Interest on the “first-in, last-out” facility accrues at a LIBOR or alternate base rate, plus, in each case, an applicable interest rate margin, which is determined by reference to the level of excess availability under the revolving facility. Loans under the “first-in, last-out” facility will bear interest at 1.00% more than loans under the revolving facility.