HMV Group refinances £240 million revolver with new credit facility

By Sara Rosenberg

New York, July 23 - HMV Group plc refinanced its £240 million revolving credit facility with a new facility that matures on Sept. 30, 2013 and has a one-year extension option, according to a news release.

The existing revolver had been scheduled to mature in October 2011.

The syndicate is comprised of the eight banks that were lenders under the existing deal.

Pricing on the new deal is Libor plus 225 basis points, and there is an up to 50 bps usage fee that can vary based on how much is drawn.

HMV Group is an England-based retailer of music, video, electronic games and books.

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