CORTE MADERA, CA—Restoration Hardware Holdings has expanded its existing senior secured revolving credit facility to $600 million with a maturity slated for November 2019. This facility replaces the company's $417.5 million revolving credit facility that was scheduled to mature in August 2016. The home furnishings retailer's revolving credit facility is currently undrawn.
Under the amended $600 million facility, the interest rate spread over the LIBOR base rate was reduced by 50 basis points to a range of 1.25% to 1.75%, based on availability under the facility. The amended facility also includes an accordion feature to increase the facility size up to $800 million.
Further details regarding the amended facility are available in the current report on the company's Form 8-K which the company filed with the SEC on Monday.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
