ePlus Technology, ePlus Technology Services and SLAIT Consulting, which are all subsidiaries of ePlus, a provider of technology and financing solutions, entered into an amendment to their credit agreement with their lenders, with Wells Fargo Commercial Distribution Finance acting as administrative agent.
The credit facility, as modified by the amendment, consists of a discretionary senior secured floorplan facility in favor of the borrowers in the aggregate principal amount of up to $425 million, an increase from $375 million, together with a sublimit for a discretionary senior secured revolving credit facility for up to $150 million, an increase from $100 million. In addition, the amendment converted all of the borrower’s loans from the lenders based on a LIBOR rate to a term SOFR rate.
“We are pleased with the continued support by WFCDF and our lenders. The increase and adjustments to our credit facility will allow us to continue to facilitate our customers’ digital transformation with our leading security, cloud, data center, networking, collaboration solutions and services,” Elaine Marion, CFO of ePlus, said.
