Golfsmith completed an amendment and extension of its revolving credit facility with GE Antares Capital.
Sue Gove, Chief Operating Officer and Chief Financial Officer, commented, “We are pleased to have completed this amendment to secure long term financing with our partners at GE Antares Capital with favorable terms. Our capital structure is now well positioned to support our growth strategy which targets opening seven new stores in each 2011 and 2012.”
The terms of the Amended Credit Facility include:
— a $90.0 million asset-based revolving credit facility
— Term extension of 48 months from closing date, resulting in no write-off of previously capitalized and unamortized debt issuance costs
Golfsmith has 77 stores.
