Sportsman’s Warehouse entered into an eighth amendment to its 2010 credit agreement with Wells Fargo Bank as administrative agent, collateral agent and swing line lender.
The amendment increases the amount available to borrow under the company’s senior secured revolving credit facility by $15 million to $150 million and lowers the interest rate paid on borrowings under the revolving credit facility by 25 basis points.
The applicable margin for loans under the revolving credit facility, which varies based on the average daily availability, now ranges from 0.25% to 0.75% per year for base rate loans and from 1.25% to 1.75% per year for LIBOR loans.
The amendment also extends the maturity date of the revolving credit facility from December 3, 2019 to the earlier to occur of either:
- 90 days prior to the maturity date of the senior secured term loan, which maturity date is currently December 3, 2020, unless the term loan has been repaid or the term loan maturity has been extended to October 23, 2022
- July 24, 2022