Wells Fargo Bank acted as administrative agent, collateral agent and term loan agent on a new $25 million term loan for Stage Stores, bringing the total availability under the company’s senior secured revolver to $475 million.
Stage Stores amended its senior secured revolving credit facility agreement with Wells Fargo as administrative agent, collateral agent and term loan agent.
Stage Stores increased the capacity under its credit facility from $350 million to $450 million, including a $50 million seasonal increase and $25 million letter of credit sublimit. Wells Fargo served as administrative agent for the transaction.
Stage Stores said it entered into an amended $350 million senior secured revolving credit facility with a bank group led by Wells Fargo Capital Finance as administrative and collateral agent.
Stage Stores announced it reached an agreement to sell its Steele’s off-price retail stores to a new retail unit of Hilco Global.