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Wells Fargo Agents $500MM ABL Facility for GameStop

November 05, 2021, 07:55 AM
Filed Under: Retail

GameStop entered into a new $500 million global asset-based revolving credit facility with a syndicate of banks. Wells Fargo Bank acted as Lead Arranger and will serve as Administrative Agent.

The new five-year ABL Facility, which was oversubscribed, replaces the Company’s existing $420 million facility due in November 2022. In addition to delivering enhanced liquidity, the new ABL Facility provides for reduced borrowing costs, lighter covenants and more flexibility.

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