Wells Fargo Bank acted as administrative agent, collateral agent and term loan agent on a $25 million upsize to Stage Stores’ senior secured revolving credit facility, bringing the total term loans under the facility to $50 million and total availability to $475 million.

According to the related 8-K filing, JPMorgan Chase Bank, Regions Bank, Bank of America, SunTrust Bank, Pathlight Capital Fund I and Pathlight Capital joined Wells Fargo as lenders on the facility.

The amendment also included a $25 million seasonal increase. Borrowings under 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 new term loan matures on December 16, 2021, contemporaneously with the existing credit facility.

Interest rates under the facility are determined by a prime rate or LIBOR, plus an applicable margin, as set forth in the credit facility agreement. Borrowings under the credit facility are limited to the availability under a borrowing base that is determined principally on eligible inventory defined by the facility agreement.

The total facility was secured by inventory, cash, cash equivalents and substantially all other assets.

Stage Stores operates approximately 830 specialty department stores mainly in small and mid-sized towns and communities in over 40 states under the Bealls, Goody’s, Palais Royal, Peebles and Stage nameplates. It offers a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods.