The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Wells Fargo Amends, Upsizes Christopher & Banks Credit Facility
Lenders/Participants
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Wells Fargo Bank [Lender]
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Structure
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Revolver & FILO Facility
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Amount
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$55.000
Million
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Borrower(s)
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Christopher & Banks Corporation
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Description
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The Second Amendment, among other changes, (i) extended the term of the Credit Facility to August 3, 2023; and (ii) supplements the existing $50.0 million revolving credit facility by adding a new $5.0 million revolving “first-in, last-out” tranche credit facility (the “FILO Facility”), subject to the borrowing base restrictions applicable to the FILO Facility. The Borrowers must draw under the FILO Facility before making any borrowings under the revolving credit facility. Loans under the FILO Facility will bear interest, based on quarterly excess availability under the Borrowing Base. At closing, the rate under the FILO Facility will be either (i) the LIBO Rate plus 3.00% for FILO Loans that are LIBO Rate Loans; or (ii) 2.00% above the Base Rate for FILO Loans that are Base Rate Loans. These rates are slightly higher than the rates under the revolving credit facility.
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Industry
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Retail
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Related Tags |
Wells Fargo Bank
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ABL Advisor
Deal Tables
2025
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