Stage Stores amended its senior secured revolving credit facility agreement with Wells Fargo as administrative agent, collateral agent and term loan agent.

According to the related 8-K filing, Wells Fargo, JPMorgan Chase, Regions Bank, Bank of America and SunTrust Bank served as lenders on the transaction.

The amendment provided Stage Stores with a new $25 million term loan, bringing the total availability under the credit facility to up to $450 million, including a $25 million seasonal increase.

Interest rates under the facility are determined by a prime rate or LIBOR, plus an applicable margin. Borrowings are limited to the availability under a borrowing base that is determined principally on eligible inventory as defined by the credit facility agreement. The facility was secured by inventory, cash, cash equivalents, and substantially all of the company’s other assets.

The facility also requires Stage Stores to maintain excess availability at or above the greater of $35 million or 10% of the adjusted combined loan cap.

Proceeds from the facility will be used for working capital and general corporate purposes, as well as to finance capital expenditures and to support letter of credit requirements. The term loan will mature on December 16, 2021, contemporaneously with the existing credit facility.

Stage Stores is a retailer of apparel, accessories, cosmetics, footwear and home goods. The company operates in 42 states through 764 BEALLS, GOODY’S, PALAIS ROYAL, PEEBLES and STAGE specialty department stores and 63 GORDMANS off-price stores.