Lazydays Holdings entered into a three-year expanded credit agreement with a syndicate of banks led by M&T Bank. The $369 million credit facility nearly doubles the company’s floorplan capacity from $175 million to $327 million and expands its revolving credit facility from $5 million to $25 million. The company’s $11.3 million term loan and $5.8 million mortgage debt will continue to be financed using the same amortization schedule. The company’s fixed charge coverage and leverage ratio covenants remain unchanged.

“M&T Bank has been a great partner in supporting Lazydays’ rapid growth,” Nick Tomashot, CFO of Lazydays, said. “This expanded credit facility provides Lazydays the floorplan and liquidity capacity to support Lazydays geographic expansion strategy.”