FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Deal Tables / Deal List / Deal Details

The ABL Advisor Deal Tables

SELECTED TRANSACTION DETAILS
Wells Fargo Amends, Upsizes Christopher & Banks Credit Facility
Monday, August 27, 2018

Lenders/Participants Wells Fargo Bank [Lender]
Structure Revolver & FILO Facility
Amount $55.000 Million
Borrower(s) Christopher & Banks Corporation
Description 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.
Industry Retail
Related Tags Wells Fargo Bank