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.