Camping World Holdings Inc. announced that CWGS Group LLC, an indirect subsidiary of the company, has entered into a third amendment to its credit agreement.
Goldman Sachs Bank USA served as administrative agent.
The Third Amendment, among other things, (i) reduces the interest rate by 25 basis points with a reduction in the applicable interest margin to 1.75 percent from 2.00 percent per annum, in the case of base rate loans and to 2.75 percent from 3.00 percent per annum, in the case of LIBOR loans on April 6, 2018, subject to customary closing conditions, and (ii) increases the term loan facility by $250 million to a principal amount of $1.19 billion outstanding as of March 28, 2018. The proceeds from the incremental add-on to the credit agreement are expected to be used to fund future dealership acquisitions and expand the company’s retail platform, as well as to pay related fees and expenses associated with the Third Amendment.
Camping World Holdings, headquartered in Lincolnshire, IL, is the leading outdoor and camping retailer. Banners include Camping World, Gander Outdoors, Overton’s, TheHouse.com, Uncle Dan’s, W82 and Erehwon.
