An existing syndicate of banks led by JPMorgan Chase, as a lead arranger and bookrunner, entered into a first amendment to its existing credit agreement with 1-800-FLOWERS.COM, an e-commerce provider of products and services.

The amendment expands and modifies the credit facilities provided under the company’s existing second amended and restated credit agreement dated May 31, 2019.

The amended credit agreement increases the commitments under the company’s revolving credit facility to $250 million, up from $200 million under the existing credit agreement, and adds a new term loan, in a principal amount of $100 million, in addition to the company’s existing term loan which currently has $95 million principal amount outstanding. The working capital sublimit under the amended credit agreement is $200 million, and the revolving credit facility contains a seasonal reduction to $125 million for the period from January 1 through August 1 for each fiscal year of the company, reflecting increases from the $175 million and $100 million, respectively, in the existing credit agreement. The new term loan, the existing term loan and the revolving credit facility are co-terminus with a maturity date of May 31, 2024.

The company currently has zero borrowings under the revolving credit facility and believes that the revolving credit facility, together with cash flows from operations, will be sufficient to fund its working capital requirements going forward.

“We are very pleased to have expanded our credit facilities and further strengthened our balance sheet,” Chris McCann, CEO of 1-800-FLOWERS.COM, said. “Combined with the significant cash flows we are generating, the Amended Credit Agreement provides us with flexibility to continue growing our business by investing in our existing operating platform and seeking acquisitions that can accelerate our top and bottom-line growth, such as our recently completed acquisition of”

1-800-FLOWERS.COM is a provider of gifts designed to help customers express, connect and celebrate.