Purple Innovation executed a new five-year $100 million senior secured credit facility, consisting of a $45 million term loan and a $55 million revolving line of credit, with a group of financial institutions led by KeyBanc Capital Markets.
Arvest Bank refinanced 1847 Goedeker’s $3.5 million term loan by providing a new five-year, 3.25% term loan. The original loan had a remaining term of 45 months and carried a rate of 12%. The refinancing reduced the annual debt service by nearly $410,000.
A group of lenders led by Bank of America increased America’s Car Mart credit facility from $171.2 million to $200 million and extended the maturity date to December 12, 2019.