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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Bank of America Agents Credit Facility Upsize for At Home Group
Wednesday, August 2, 2017
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Lenders/Participants
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Bank of America [Administrative Agent, Swing Line Lender, L/C Issuer, Collateral Agent]
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Structure
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Revolver Increase, Amendment
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Amount
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$350.000
Million
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Borrower(s)
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At Home Group Inc.
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Description
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Pursuant to the ABL Amendment, the maximum committed principal amount of revolving credit loans was increased from $215 million to $350 million (with the letter of credit sublimit increased from $25 million to $50 million and the swingline sublimit increased from $10 million to $20 million). In addition, the maturity of the ABL Credit Agreement was extended to the earlier of July 27, 2022 and 91 days prior to the maturity date of the term loans under the First Lien Credit Agreement, dated as of June 5, 2015 (as such date may be extended), certain pricing thresholds were adjusted and certain covenant restrictions were loosened. There are no financial maintenance covenants in the ABL Credit Agreement. However, during the existence of an event of default or when the company fails to maintain availability of at least the greater of $15.0 million or 10% of the loan cap, the consolidated fixed charge coverage ratio on a rolling 12 month basis as of the end of any fiscal month must be 1.00 to 1.00 or higher. Borrowings under the ABL Credit Agreement will continue to bear interest at a rate per annum equal to, at our option: (x) the higher of (i) the Federal Funds Rate plus 1/2 of 1.00%, (ii) the bank’s prime rate and (iii) LIBOR plus 1.00%, plus in each case, an applicable margin of 0.25% to 0.75% based on the company's availability or (y) the bank’s LIBOR rate plus an applicable margin of 1.25% to 1.75% based on the company's availability.
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Industry
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Retail
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| Related Tags |
Bank of America
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ABL Advisor
Deal Tables
2025
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