Daily News: January 7, 2013

Hastings Entertainment Enters Into Second Amendment With BofA

Hastings Entertainment, Inc., a multimedia entertainment superstore retailer, announced on January 4, 2013 that it entered into a second amendment to its credit facility with Bank of America.

The second amendment extends the maturity date of the loan agreement from July 22, 2014 to January 4, 2017. There are no other changes in terms or conditions.

“Amending our loan agreement allows us to maintain our low cost of capital and provide financial flexibility and liquidity through January 2017,” said John H. Marmaduke, CEO and chairman. “We appreciate the strong working relationship that we have with Bank of America.”

Founded in 1968, Hastings Entertainment is a multimedia entertainment retailer that combines the sale of new and used books, videos, video games and CDs, as well as trends and consumer electronics merchandise, with the rental of videos and video games in a superstore format.